North Bay Resources Inc (NBRI)

[ryanonthevedder]

I was surprised at first when they wrote those new deals for financing, but it seems that it is a continued attempt to preserve shareholder value. It would have been easier to engage in selling via the previous agreement, but the low PPS would have been very dilutive in the very near term.

Certainly they are robbing Peter to pay Paul, but some times it can work out.

I did see some of the most recent gold they swept up off of the floors and again it looks great. Silly of them to advertise jewelers nuggets though. Weak IR suggesting they may fetch 2x spot when they are already sold for spot.

I am still bullish on this company. CEO seems pretty relentless, not fast, but steady at it. The gold is there, we just need to pump those revenues to profitability.