If that's the case then why would a new shareholder buy into this if there is a very good possibility the PPS is going to erode even more if and when they actually do something? Remember the words IF and WHEN it's a crapshoot yes/no? The future IMO is murky at best with this shell not being transparent without any Sarbanes-Oxley golden standard of accounting being applied here. When I see an official filing and take a look under this companies hood then I'll know what shape they are in financially. Until then IMO this is fuzzy PR land and the share count was hit by a massive RS without much being released except people joined the board.
Listen this could happen-I'm not saying it will not. That's not for me to decide here or anyone else who isn't in management. If they do get this up and running they are facing some very stiff competition bc there is a glut of iron ore and less sulphur impurities readily available and throw in a global declining price. Houston you have a problem.
We heard about equipment being ordered, property being acquired near a rail line for shipment via train instead of trucking, new board members, buyout 100% of iron ore, working on becoming a reporting company. Wheres the proof? How about images of any new equipment in place at the mine and at the supposed rail line site they acquired? Lets look at their progress if any with our own eyes for a change? How about making public the documents of the 100% acquisition of Iron Ore they Pr'd? Official update from CEO on where company stands exactly in their timeline to be a reporting status?
But, we've had a RS that took away for every 40 shares and replaced it with 1. From a shareholders point of view what's good about that if nothing has transpired that would make my stock value increase-not decline? But hey what they hay if they throw in millions of dollars into their infrastructure- line their ducks up with all of their money + equipment + manpower and reach long term stable contracts...and become a reporting company. Then we have a new ballgame and IF they can RAMP UP volume and CUT out the impurity and remove the price subsidy. Then I'll say ok...they have a chance.
But as a shareholder who invests long term in companies that have potential...I need to see more.
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