Colorado Goldfields Inc (fka CGFI)

[sanbrunobaby]

I guess question may be did this play ever have potential ? At first glance company having a mill and nearby ore for processing seemed like a neat story.

However, as one starts to look at the whole picture, it emerged this was either a complete pipe-dream by inexperienced people, or worse simply a promotional play. No milling contract key terms disclosed, no ore shown definitively available for processing, management no experience ever managing a producing operation, management not following SEC Guide 7, using overly promotional press releases referring to NI 43-101 reports, the list goes on and on. Deals announced and never closed, and CFO takes lien on the mill himself.

Add to this convertible debt financing which is always tough.