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Saturday, December 22, 2012 10:20:57 AM
Neither is SCCO - they have classified the rumor as baseless in both written and verbal communication.
In doing a JV when a company is supplying capital they have a SEC and shareholder responsibility that the company they are JVing with is solvent and there aren't any skeletons in the closet.
On the stinky pinkies the SEC lets knuckleheads screw other knuckleheads almost completely unabated. But the NYSE is a different animal - if you think a company is going to commit $600 million and not do their DD - you have been in Pinkyland far too long.
It is being very naive to think it is about reserves only on the NYSE level.
IH
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