Replies to post #63099 on Colorado Goldfields Inc. (fka CGFI)

[lesgetrich]

It's quite a leap to go from ...

You are correct I don't know costs to rehabilitate the mill and meet permit conditions, nor their other cash requirements.

... to state that they won't be able to open the mill this year.

My own experience with other penny stocks is that this company has had more PR's than most and been more diligent about being current on their SEC reports than most. As I've said before, there may be valid strategic business reasons for holding information close to the vest. Particularly, since they've been the target of naked shorting. If they release too much information too soon without being able to follow through with revenue within a reasonably short period of time, the pps will just drop again and they'll be accused of a pump and dump which won't help their case for removing their DTCC chill.

Also, if you put yourself in Guyer's shoes and you see that you're going to need to raise a considerable amount of cash to open the mill, you may not want to open yourself to the accusation of pumping up the pps and then diluting it.