I have talked to company today.
It seems that is not clear if the money which are put by West Coast Mines will be available to perform a drilling or work on targets other than Santa Rosa itself. Confused and surprised as report paid by the WC is for a whole property. The report is an independent study with contributions from Flour Daniel analyst which is according to P. Hill in the process of being put together. The study will look at all exploration data, will attempt to calculate possible size of resource and its potential, it will give a sense of direction to exploration efforts when the financial status will allow to proceed with them. This alone is the reason of my confusion about the money.
The future of US$250K than on basis what I have heard from Co's IR does not have a meaning of drilling and it was concluded by P.Hill as "I don't know either way for sure".
I have heard different version of this story and other interesting remarks, but this combined with the price of shares does not hold much of the ground to be even repeated here. The future months hold little or no promise for any activity, unless the stories I hear will materialize. The price of stock more likely will deteriorate and being under 0.15 are not likely allow financing through the market.
Company represented by P. Hill denies that consolidation is in discussion and when I asked for number of shares fully diluted 27.8M was given. I think we are close to 30M by now and at 0.09 there is very few options left.
Beyond consolidation, the takeover or option on property are ones I could think of, but with the market malaise, both are very illusive.
The small shareholders will continue sell with the loss in the middle of the year trying to get their 0.10 on 0.80 investment if they lucky so with downward pressure, the miracle is out of the question.
There is a quiet large number of shares being hold by different houses yet and this pattern has not changed.
The action by WC, shows that all who have invested in GHE for their property have done their dd properly, The company itself should have been investigated deeper, which myself I failed to do as ultimately their weakness lies in their performance and translates where we stand as shareholders. I am certain that the change is needed in this house of horrors and if shareholders will not act to clean this structure, no value is heading this way anytime soon.
Robert |
