Thanks Sunny-another excellent analysis
just now seeing another post, this paragraph speaks to that other post. Thats why multiple witnesses are usually required -if 30 people look at the same situation they will all have different views of what happened.
All transitions will have problems to work thru -thats a given. A buyout like this usually requires many months-sometimes years-of dd by the acquiring company-but there are several indications this was a quick buyout when it happened- so they are catching up on many things that normally would be learned prior to the buyout,which has given them extra issues to work through.
The important thing is they are working through the issues in what seems like a professional approach and say they are solving the issues. Mining is tough-the most aggressive entrepreneurs sometimes like to tackle a mine to see if they can do it to cap their careers-ca 20 plus would be junior miners asked Bob for his advice on how he did it. I dont think there will be any suit between Bob and Brad for misunderstandings that arose due to the quickness of the transition.
Although Brads been in the iron mining business for years, his private company has not shipped yet to our knowledge-so they are still learning about the details of the permits [Shirley et al apparently handled the May shipment as we saw from the pics of Shirley at the ship] and probably getting comfortable with the mining operations/geologists/supervisors before running full blast (they have a huge amount of inventory anyway so thats not a problem)- to the extent they havent been replaced by his own team.
and working through and getting up to speed on pre-existing relationships and the legal situation with Geo that Bob et al are dealing with- the TX case should be over early to mid October I believe,so that should clear up most if not all things Brad may have to be concerned with,and then its all in Bob et als hands in their much larger case against Geo in CA where CWRN is asking for scores of millions actual and punitive damages in 13 counts.
Brad didnt say a word about the accounting or the prospectus and we will have those things and the sec registration statement as noted by the PR by the time the dtc is removed, which prevents many like me from being able to trade this since 2011-but it would be normal for the audited accounting especially to take longer than expected -it has for every penny company I've been aware of.
Meanwhile we have confirmation the mine is operating on a daily basis [though not at full speed yet], as our mine visitors tenn21 etc have already previously reported back some time ago, so no surprise there,and no problem there -plenty of inventory.
and they intend to have the KMG website up and running soon,as we already saw from Navial's managers facebook page some time ago.
But it was nice to hear back-and that stockholders are not being ignored -they are just busy dealing with things-there is always more to running a producing mine than one would expect and one that was under different ownership, where there are many existing relationships to catch up on.
just now seeing another post, this paragraph speaks to that other post. Thats why multiple witnesses are usually required -if 30 people look at the same situation they will all have different views of what happened.
All transitions will have problems to work thru -thats a given. A buyout like this usually requires many months-sometimes years-of dd by the acquiring company-but there are several indications this was a quick buyout when it happened- so they are catching up on many things that normally would be learned prior to the buyout,which has given them extra issues to work through.
The important thing is they are working through the issues in what seems like a professional approach and say they are solving the issues. Mining is tough-the most aggressive entrepreneurs sometimes like to tackle a mine to see if they can do it to cap their careers-ca 20 plus would be junior miners asked Bob for his advice on how he did it. I dont think there will be any suit between Bob and Brad for misunderstandings that arose due to the quickness of the transition.
Although Brads been in the iron mining business for years, his private company has not shipped yet to our knowledge-so they are still learning about the details of the permits [Shirley et al apparently handled the May shipment as we saw from the pics of Shirley at the ship] and probably getting comfortable with the mining operations/geologists/supervisors before running full blast (they have a huge amount of inventory anyway so thats not a problem)- to the extent they havent been replaced by his own team.
and working through and getting up to speed on pre-existing relationships and the legal situation with Geo that Bob et al are dealing with- the TX case should be over early to mid October I believe,so that should clear up most if not all things Brad may have to be concerned with,and then its all in Bob et als hands in their much larger case against Geo in CA where CWRN is asking for scores of millions actual and punitive damages in 13 counts.
Brad didnt say a word about the accounting or the prospectus and we will have those things and the sec registration statement as noted by the PR by the time the dtc is removed, which prevents many like me from being able to trade this since 2011-but it would be normal for the audited accounting especially to take longer than expected -it has for every penny company I've been aware of.
Meanwhile we have confirmation the mine is operating on a daily basis [though not at full speed yet], as our mine visitors tenn21 etc have already previously reported back some time ago, so no surprise there,and no problem there -plenty of inventory.
and they intend to have the KMG website up and running soon,as we already saw from Navial's managers facebook page some time ago.
But it was nice to hear back-and that stockholders are not being ignored -they are just busy dealing with things-there is always more to running a producing mine than one would expect and one that was under different ownership, where there are many existing relationships to catch up on.
