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Posted On: 06/07/2021 10:56:55 AM
Post# of 2062
I agree Megashear. It takes a hardy soul to work outside in that climate.
Disappointing not to get some kind of update, but not something we have any control over.
One guy running the show, accountable to no one, and using the share count as an ATM machine to fund the operation through discounted shares for cash. His MO hasn’t changed since wiping out most of the earlier investors who gave him their cash for discounted share certificates, which are pretty much worthless now, unless they are of a significant size.
We might be much better off if he quit taking out loans and concentrated on just finding a JV deal or a Buyer, ( doesn’t matter how much gold is there, if PT can’t figure out how to recover it in significant quantities, and so far I believe he has spent about $30 million trying), while the share count is still low, because the dilution is only going to grow exponentially.
The 10K should be out in 4-6 weeks, and will show how many new toxic loans were taken out.
Meanwhile we have a $40K note eligible for conversion around June 15th, and another $40K note eligible for conversion next month around the 20th. Both notes convert at 65% of market price.
Disappointing not to get some kind of update, but not something we have any control over.
One guy running the show, accountable to no one, and using the share count as an ATM machine to fund the operation through discounted shares for cash. His MO hasn’t changed since wiping out most of the earlier investors who gave him their cash for discounted share certificates, which are pretty much worthless now, unless they are of a significant size.
We might be much better off if he quit taking out loans and concentrated on just finding a JV deal or a Buyer, ( doesn’t matter how much gold is there, if PT can’t figure out how to recover it in significant quantities, and so far I believe he has spent about $30 million trying), while the share count is still low, because the dilution is only going to grow exponentially.
The 10K should be out in 4-6 weeks, and will show how many new toxic loans were taken out.
Meanwhile we have a $40K note eligible for conversion around June 15th, and another $40K note eligible for conversion next month around the 20th. Both notes convert at 65% of market price.
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