Replies to post #46541 on EFuel EFN Corp (EFLN)

[MIKEY501]

It is quite interesting. Strange stock. Has a hard time getting traction but they dont dilute us so thats a good part.

$EFLN

[rbtree]

500 mil in mines and nothing. Just don't get it

They have no mines... they did lease some very old claims, a couple of which did have some historical production a century or so ago... but, apparently none of the individual mines produced more than 50-100k ounces, iirc.

For them to ever bring a claim into production would require a lot of exploration and testing.. and that would only be for a single claim..or a couple if two adjoin each other... Permitting would be required for each claim, I think. And permits are very hard to obtain in California. There are currently only a couple producing mines in the entire state.....

Even in the very very remote chance of a production decision being made, it is still not legal, per SEC guidelines, to attribute any value to the minerals. In fact, it was fraudulent to claim a $500m asset....

One of many many reasons why they will never file PCAOB compliant audited financials, or become an SEC registrant.