Shorvat1,
please excuse the long post.
You wrote:
"Where in the 8K does it mention that B&D will be doing 3rd party verification? If B&D were contracted to perform verification, the 'nature' of the contract would surely not be 'impossible to anticipate'. The 'result' of the contract would be impossible to anticipate but not the nature. They were contracted to do something, what is it? I am not trying to bash these guys. It is just that the last 8K finally gave real hard (and ugly) facts. Why not continue to publish real facts?"
This from 8k
The firm of Behre Dolbear & Company, Inc. has been retained to act as a
consultant to legal counsel for Registrant for issues relating to Registrant's
mineral concessions in Bolivia. It is impossible to anticipate the nature or
result of such consulting services at this time.
So you do not consider the above a fact? I do consider it a fact that the have retained BD. I agree with you that the wording is such that there is a fuzzy area, i.e. "what have they been contracted to do." If they have been contracted for legal council pertaining to GE's May press release, then this to me is a bullish sign. The reason for this being that I do not personally think that BD would support GE's case without them having a leg to stand on (BD has in all probability had Guido's report for about two months). To go to the scenario that BD has been hired to verify the results as reported by Guido one needs to go by what Terry Turner stated in the Rocky Mountain News on June, 20 1998 and I quote - "The company's Bolivian prospects and Paravacini's study must now undergo the scrutiny of independent auditors, Turner said." (These auditors are now a fact i.e. BD)
He also stated in another interview that "a third party firm will be hired within 10 days to verify the results." I do not have this clipping so I am speaking under correction. Maybe BD has been hired for both functions.
TT's timing has been quiet pathetic at times and the company has never met an announced deadline. This all said and done though there are some things that we have to look at beyond the facts. In my year and a half of following this stock, TT has ALWAYS been true to his word and that goes for the rest of the people working with this company. I have never spoken personally to either TT or Mary but have whittled away at getting my information through other means. I have met Guido personally and have had a long chat with him. He to has told me straight in the face that he completely believes in his figures and that they are understated.
So what we have here is a very knowledgeable Guido who has been paid his normal plus/minus $10000 US dollars per month fee, submitting a report using the lowest figures possible to avoid putting by all accounts a long and successful career at risk.
You have the rest of the people working for this company putting for all intents and purposes, the quality of the rest of their lives at risk.
On top of it all they have sold no stock and have stuck to their guns through all of this. Do not forget also that they did not have to answer to the SEC and did so voluntarily, that includes Guido.
Most of these people are easy to contact or find, it is not like they are hiding. Hell just go to Denver and look up the Wicked Cricket, Cricket Dicked (or whatever).
I see many are concerned that no time frame has been given, to me this is a plus because as I have said GE can never keep a deadline. And what is important is that a proper job is done not when it is done.
Call me a romantic if you want, my chips are down, I have done my dd and will change my opinion only when I uncover something that warrants it.
This is a all or nothing stock and you have to risk only what you can see flushed down the drain.
Have a good day. Until something new pops up I will be going over to the LL to enjoy the summer.
Regards,
Probart
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