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Gold/Mining/Energy : Coleville Resources - CLL

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To: MNorth who wrote (2988)	4/19/1998 8:15:00 PM
From: Steve Sanders	Read Replies (1) of 3058

If the company is delisted it doesn't mean it is bankrupt, but it must be in serious trouble if it couldn't pay its sustaining fees. The problem would be who among the shareholders will put money into the company? I don't mean invest in the stock with a speculators dream of hitting the big one. Let us face the facts! If the management of the company was not willing to pay the sustaining fee of a mere $1000.00 to $1500.00 are the assets really worth anything. Normally in these deals management would have a ton of shares. This would mean they would have the most to gain if there was real value to coleville's assets. Don't you think? The only other way is that they owe a bunch of money all over the place and have decided they can no longer keep the ship afloat and they don't want to put their own money in. Like I said we shareholders really don't invest in the company we usually buy shares off of another shareholder. I don't know if this is worth saving but a statement from management as to what their plans are would be good. I don't know if I answered your question but I think you can perhaps see the difficulty in trying to save it once management appears to have neglected it to this extent.

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