Replies to post #65181 on Colorado Goldfields Inc. (fka CGFI)

[LJ Silver]

FWIW. Hope all are doing well..
LJ
http://filings.irdirect.net/data/1344394/000135448813003549/cgfi_def14c.pdf

The Colorado Division of Reclamation, Mining, and Safety did not issue a conditional permit for the mill to re-commence operations until
August of 2012, and by that time winter weather was setting in, substantially reducing the activities that the Company could undertake to meet the
conditions associated with the permit. These conditions were fundamentally capital improvements, generally involving environmental concerns, before
the mill could again begin operations. The Company is making plans and pursuing activities with the goal of beginning operation of the mill (for
which it already has commitments to process ore) and mining operations this year before winter weather again sets in, but the perceptions of business
risk involving the Company, which are in large part out of the Company’s control, have had a downward effect on the market price of the Class A
Common Stock. As a result, the Company engaged in two reverse splits to maintain the price of the stock and enhance the stock’s standing in the
investment community. In turn, the authorized shares were increased to give the Company flexibility in issuing additional shares to acquire property,
progress toward economically viable business operations, and issue shares upon conversion of convertible debt financing. The requirement to reserve
unissued shares, often at a 4-5 times multiple of the estimated number of conversion shares, is a large factor when considering the total number of
authorized shares needed.

[sanbrunobaby]

I dont work for them but I know situation in general with placing such shares- and I talked to etrade, once you get past their general instructions about such shares and talk to someone in compliance they will say the same thing.You may be a big client or have institutional connections to get around current issues, but in general my understanding from several brokers and market makers that placing shares of a low priced stock with a DTC chill is simply not possible with most brokers. Since your post indicates you havent tried yet ( unless I misunderstood) I am unsure how you are expecting to place these shares.

Also if you ahev a way to do this I would be most interested to see how you are able to do !

[sanbrunobaby]

By the way what I am totally unclear about is how with a DTC chill even the institutonal brokers can clear the stock.

Does anyone know ?