All the signs say news is near now.
After all, it seems clear to me that the only reason SRGE was formed, was to transfer the assets of MSJ that were in dispute with BGL to a completely separate legal entity to protect them from any judgement against MSJ that BGL might win in the Mexican courts. They (BGL) won squat!
If that is not the reason why SRGE was formed, why didn't MSJ transfer all of their assets into SRGE and list on the NYSE or NASDAQ instead of the OTC? Instead MSJ only transferred the assets in dispute with BGL into SRGE.
Funny that!
By February of this year MSJ was sure that BGL could not win any action, so transferred the disputed assets back to themselves from SRGE.
Taking Kinross to court would have cost a lot of money and would not have been settled for some considerable time - months at least if not years even. I'm guessing SRGE decided to transfer Cinco Minas and Gran Cabrera back to MSJ and probably even carry on negotiating the sale with another third party again . SRGE had served its purpose, now was the time for MSJ to move forward.
The job of needing to protect the ownership of the mines was over. BGL had lost. I do honestly think that the case against BGL might have been dismissed in the Mexican courts with a judgement handed down as being "with prejudice" or the Mexican equivalent? After all, if this is not the case - why haven't BGL filled a new legal action against MSJ? Maybe they have run out of money, or maybe they tried to hire another legal firm on a "no win no fee" basis and were advised, after the Attorney's reviewed the papers, that the likelihood of success was remote, if not to say way less than 50%!
The SEC suspended trading in SRGE's shares for a fixed length of time. After that trading resumed on the grey sheets.
To the best of my knowledge, the SEC has not formally reported back its findings? It is not important. However, I thank the turn of events which allowed me to buy in at these levels.
So why is NITE still making a market in the company's shares? It seems to me that they are doing all they can to keep the price low so that all the shorters who were shorting can cover and save themselves from financial ruin.
There are various reasons why the trading volume has risen in recent weeks.
1) As rjbluesky and others here have suggested, maybe MSJ are buying shares to cancel?
2) Maybe the shorters have realised that news could come at any time and have been buying as cheaply as they can?
3) It seems to me that the Mexican Mining Registry is most likely looking for MSJ to ge them to officially update the Registry correctly.
Long and strong go SRGE!
After all, it seems clear to me that the only reason SRGE was formed, was to transfer the assets of MSJ that were in dispute with BGL to a completely separate legal entity to protect them from any judgement against MSJ that BGL might win in the Mexican courts. They (BGL) won squat!
If that is not the reason why SRGE was formed, why didn't MSJ transfer all of their assets into SRGE and list on the NYSE or NASDAQ instead of the OTC? Instead MSJ only transferred the assets in dispute with BGL into SRGE.
Funny that!
By February of this year MSJ was sure that BGL could not win any action, so transferred the disputed assets back to themselves from SRGE.
Taking Kinross to court would have cost a lot of money and would not have been settled for some considerable time - months at least if not years even. I'm guessing SRGE decided to transfer Cinco Minas and Gran Cabrera back to MSJ and probably even carry on negotiating the sale with another third party again . SRGE had served its purpose, now was the time for MSJ to move forward.
The job of needing to protect the ownership of the mines was over. BGL had lost. I do honestly think that the case against BGL might have been dismissed in the Mexican courts with a judgement handed down as being "with prejudice" or the Mexican equivalent? After all, if this is not the case - why haven't BGL filled a new legal action against MSJ? Maybe they have run out of money, or maybe they tried to hire another legal firm on a "no win no fee" basis and were advised, after the Attorney's reviewed the papers, that the likelihood of success was remote, if not to say way less than 50%!
The SEC suspended trading in SRGE's shares for a fixed length of time. After that trading resumed on the grey sheets.
To the best of my knowledge, the SEC has not formally reported back its findings? It is not important. However, I thank the turn of events which allowed me to buy in at these levels.
So why is NITE still making a market in the company's shares? It seems to me that they are doing all they can to keep the price low so that all the shorters who were shorting can cover and save themselves from financial ruin.
There are various reasons why the trading volume has risen in recent weeks.
1) As rjbluesky and others here have suggested, maybe MSJ are buying shares to cancel?
2) Maybe the shorters have realised that news could come at any time and have been buying as cheaply as they can?
3) It seems to me that the Mexican Mining Registry is most likely looking for MSJ to ge them to officially update the Registry correctly.
Long and strong go SRGE!
