Richard, you are right not to waste you time on the threads. Too much frustration due to lack of news.
It seems that GE needs to get their financials current before they can proceed with the business at hand.
Unfortunately, and probably unknown to them, accurate accounting records were not kept in Bolivia, they are short of receipts, etc. It is taking a while to compile the documentation needed to file financials. Of course, the SEC will scrutinized them, that is probably a good thing at this juncture.
Behr Dolbear has been hired to perform a Report audit, including sampling checks, which will put to rest questions concerning Guido
Paravincini's reserves claims AND should put GE in a position to negotiate fair offers for a JV or outright buyout of their concession.
They have already had offers, they want more than what is on the table. (So I have heard.)
GE's claim has generated interest and offers from major mining concerns, apparently the offers have not been good enough for GE to entertain.
The mining collectives in Bolivia are restless in general, they want to see the royalties that they expected when they contracted with mining concerns in Bolivia. No production = no royalties.
The beginning of the turning point for GE, imo, is when BD starts the audit process. Then, it will be a matter of months before the patient and impatient shareholders will have an idea of when they can expect their hopes for GE to become a reality.
GE's gold is there, how much will be matter for debate for some time, BD's efforts are needed in that regard.
Sun River Mining Co. is mining nearby and although the verified gold reserves on their portion of the Tipuani River is not stellar, it is respectable and bolsters GE's claim to a huge deposit. They have rights to other deposits, one has a 1.9m proven reserve. Bolivian mining is well worth investing in on a case by case basis.
Once GE financials are current they should be able to go back to otc electronic trading. They have a MM lined up and hopefully the process will be painless.
In a sentence, Richard, we are waiting for the financials to be current. How long that will take is anyones guess.
Colleen
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