This is extremely disappointing to me!
<<As far as the gold that we have purchased in the past, we refined most of it and sold it on the open market. We used the money to fund Deep Blue Marine instead of selling stock and diminishing its value. We do have some gold and silver that we have kept for investment purposes and for display>>
What happened to the promise from WIlf that 1/3 of the gold buys would be used for buying shares in the open market for the employees (A well deserved bonus AND a way to drop our float a little), 1/3 would be put away as gold to back the stock with gold in the vault (WHich would help the balance sheet, which needs it dearly), and 1/3 would be used for operations? The announcement that this would be how the gold buying would work was a positive one that helped make me buy my most recent shares of the company.
Any company buying shares off the market and putting gold into the vault is a good one to own in my opinion. And I bought based on WILF'S WORDS in that announcement.
NOw it sounds like it is just another promise broken. Yeah, yeah, I know I"ll hear the "reasons" why it didn't happen. But that doesn't justify the fact that he SAID it would happen, he did NOT do it, and he has NOT answered my questions when I have ASKED him about the buy back and the gold in the vaults! If it can't happen, don't SAY it.
TOO many promises broken.
Which is why right now I own ZERO shares. I sold those shares at a LOSS. Wilf I bought based on an announcement you made that was in essense a LIE. And I lost money because you said you would do something, you have never said that you are NOT doing it, and so people think (thought) it IS (was) happening. I"m glad Allan finally said it is NOT happening. But when you make a grand announcement and brag about how you are going to back the stock with gold in the vault, and then you don't do it with 1/3 of the gold refined and ignore the questions of those that ask if it is being DONE, that is ... shameful at best - and fraud at worst.
Shame on you Wilf. I'm very disppointed in you again. And I"m sure morale from the employees who were promised this stock can't be great either. Shame on you for saying this thing would happen, taking my money because I believed you, ignoring my posts on THIS board asking about the purchases and bars being put in the vault, and not doing it. I think this is why the stock is at less than a penny, even AFTER the 1 for 5 reverse split.
Shame on you!
I'm gone for good this time. I can't invest where i don't trust.
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