Replies to post #64499 on Colorado Goldfields Inc. (fka CGFI)

[sanbrunobaby]

Interesting though for quite some time there were those who defended this management no matter what was pointed out.Even considering how tough this business is these days for companies with a DTC chill ( deserved or not), permitting, financing, etc etc , one owould think CFO could have spend even a few days reviewing the NI43-101 and SEC Guide 7 rules, press releases from legitamate junior companies.

I am full of curiosity (a) next PR or 10q indicating why the sudden reverse decision was taken (b) and after the reverse those who have suffered 2 reverse splits whether they come back super strong on this stock again.

I admit I liked the idea they controlled a mill and were winding their way through the permit process, and were in an area that had several former mines. Looking at thier filings and recent press releases just didnt generate confidence management had the ability to pull this off.

No matter what an interesting company !

[sanbrunobaby]

I am in complete agreement that the bigger issue than the details we have been discussing is what they point to- the quality of management.I mean really since they were not required to file a NI43-101 and wouldnt qualify for a Canadian exchange anyway, the only reason for them to bring up NI43-101 is to try to impress investors with limited knowledge of this sector. Then they put values on properties without considering CAPEX, extraction costs or anything else, let alone any meaningful explanation whether they were using old reports or reasonable current exploration information.And in any case these questionable press releases didnt stop the slide anyway.(Wonder how CEO as a member of SME signed off on all this).

Their 10k last year also questionable- they have some investors believing the mill would be operating this year, they forecast other working capital needs but not to re-activate the mill and then finally on recent 10q estimate re-activation costs at $3 million.

And someone still buying the stock after 2 reverse splits in less than 12 months ! Wonder what's next - CFO announces a "temporary feasibility study accordng to SME criteria" ?