Hi Les,
Yes I do believe company is not very transparent.
1.NI43-101 reports : If I compare their press release to almost any company I know reporting NI43-101 reports their press release extremely limited in information presented. Really, how can you mention a report prepared according to NI43-101 criteria, then release almost no key information.
2. Pre-Production Information : I do not know any ocmpany forecasting production in less than 6 months, that does release some limited information but not other key information Again they forecast revenue, gross margin percentage, and in their 10k forecast all sorts of cash requirements except capital required to start up the mill unless I read incorrectly. I looked up a few of the symbols you mentioned amd they were not pre-production; Hondo I looked at their 10k, certainly much more information than CGFI.
3. SEC Guide 7 : It is only a few page guide that most transparent companies follow, if nothing else because when SEC does a review of small company filings they go by this. I fail to see on this company's filings they follow the required disclosures.
However I do feel since they control a mill that this could turn out to be a great speculation. Just my DD turns up more questions than answers.Just my opinion.Perhaps just me, I just do not understand how they can run a public company going into production with $5,000 in the bank.
AI
