shazaam,
That is a very good question. I assume the guy to ask is Dana Low, since he is the head of Dun Glen. I don't want to mislead anyone. In fact, since I posted what are sort of "green flags" about the experience, let me put up some possible yellow or red flags to go along with them.
First, I am concerned that no gold report has been issued. They showed us gold in the sluice that had been run the previous day. That means that Dana Low and Bill Strack obviously knew about that gold before the S/H meeting. (After all, they had placed the little rods to point to the specific pieces of gold).
At the meeting Dana said everything was finally in place for Dun Glen to work... permits, equipment, people, etc. In other words, this was finally the time they were in a position to see if Dun Glen was a make or break proposition. Therefore, he would leave if Dun Glen wasn't producing within a month, before the winter. After the meeting, but before the tour I left the room and overheard part of a conversation between a S/H, Low and Ted Simplot. I think the S/H asked how long Low meant before continuing to try to produce at DG. Low said, "About Thanksgiving". Ted Simplot then added he thought they could probably go a little longer than that.
So from everything I wrote above, I expected that the mine would be in production for at least 30 consecutive days (or at least 50 hours a week) after the S/H meeting. I expected they would either test the value of the gold they showed us, and then start production or else would run for a week, then pull the mats and find out what a week's production from their trench would produce.
However, I have not seen anything published. The only explanations I can think of are:
a) There is no gold to report
b) The machinery broke down
c) It was a phony demonstration of gold in the sluice.
d) There is gold there, but the contractor/crew are not skilled enough to get it.
e) There is no money to run the machinery
f) Dun Glen cannot get its act together and make the gold report available to shareholders.
Please note that I am not saying that one of these situation is true: I am only saying that in the absence of a public report, competence, negligence, or fraud are the only speculations I can come up with to explain the lack of information. Ted Simplot examined the sluice. I can't imagine he can be satisfied if the Dun Glen management had a demonstration and then could not even produce a report about its value.
The geologists think there is plenty of gold there. On the tour they showed the trench the material was coming from. At the S/H meeting Low said he was going to get $14,000 to fund the work. Low knew about the run before the S/H meeting. Strack showed us the equipment and the gold in the sluice.
From the meeting it seemed pretty clear that URHG has done its job. (Dun Glen is a subsidiary company of URHG). Everything, according to Low himself at the S/H meeting was now ready for DG to do its thing and prove itself or fail. He is the president of DG and the guy who at the last S/H meeting a couple years ago told everyone DG was ready to start producing many thousands of dollars a month. He and Strack are in charge of the operation; and Low said if Dun Glen didn't work he would leave & recommend shutting DG down. So it seems to me that he and his contractor Strack are the ones who are accountable and need to give shareholders something to go on.
I don't mean to be an alarmist; maybe they are just planing to run for 30 days and then issue a report, I have no idea - but I didn't want you to think I was trying to pump the stock by giving too rosy a picture. I just want to see a report from the Dun Glen company that helps me understand what I saw up there.
One final point is that at the S/H meeting Dana said he wanted and needed help from shareholders to make things a success. He mentioned that he had been getting useful free advice from Mark Kersey, who he commended for be willing to help out. In addition, when Strack talked about his consolidation plans for RMI, he said that Mark was also involved with another Strack company in this project.
If I remember more I'll post it. As I said, I don't want to mislead anyone or come across as a company shill. I'm really just hoping for a good gold report to come out soon.
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