I checked this last post by BGL where they say the
Post# of 9903
Posted On: 04/01/2016 7:07:51 AM
I checked this last post by BGL where they say they're in court with a new appeal 627/2016, hence the audited annual report is late because of this. BGL posted about this new appeal and the buholegal link says that this appeal started on March 14th 2016. Here's what I believe is happening. It's very simple.
BGL is running out of time and money to keep writing "is in the process of protecting the interests in Cinco Minas/Gran Cabrera" in their audited report.
BGL's auditors probably warned BGL that they can not keep the mines as an asset in their audited report for much longer as it has been 9 years already
and they need to write it off completely. BGL's auditors probably refused to keep the mines as an asset in BGL's latest audited annual report. I mentioned in my earlier posts that these auditors themselves would get into trouble with authorities if they keep signing off on the audited annual report knowing full well that they can't keep these assets in the books for much longer. Their auditors could have said something like this to BGL:
"Do a last effort in court and the outcome of that effort will be put in the latest annual audited report".
The concession titles are fully in hands of MSJ as written in my post 7415 (sticky post). From March 29th until April 1st is 3 days as written in the link March 29th 2016 on buholegal, so that's today. This is BGL's last effort but it can't take a long time because the TSX will put sanctions on BGL like a suspension or other sanctions if the audited annual report is delayed.
BGL is running out of time and money to keep writing "is in the process of protecting the interests in Cinco Minas/Gran Cabrera" in their audited report.
BGL's auditors probably warned BGL that they can not keep the mines as an asset in their audited report for much longer as it has been 9 years already
and they need to write it off completely. BGL's auditors probably refused to keep the mines as an asset in BGL's latest audited annual report. I mentioned in my earlier posts that these auditors themselves would get into trouble with authorities if they keep signing off on the audited annual report knowing full well that they can't keep these assets in the books for much longer. Their auditors could have said something like this to BGL:
"Do a last effort in court and the outcome of that effort will be put in the latest annual audited report".
The concession titles are fully in hands of MSJ as written in my post 7415 (sticky post). From March 29th until April 1st is 3 days as written in the link March 29th 2016 on buholegal, so that's today. This is BGL's last effort but it can't take a long time because the TSX will put sanctions on BGL like a suspension or other sanctions if the audited annual report is delayed.
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