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Gold/Mining/Energy : Core Gold Inc -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (1880)	12/11/2017 9:14:02 AM
From: pstad60	Read Replies (1) \| Respond to of 2131

LoneClone, The article does present a good example of the skepticism the market has for this company's potential success. However, I got the impression that the author had no idea the company's new management had shifted focus away from the underground mining operations in the Cabo de Hornos mine at the Zaruma Project, and started open pit mining on the Dynasty Goldfields Project. A contractor is mining and trucking material from the new open pit sites to the processing plant at Portovelo. There is no mining at Cabo de Hornos at the present time, the decline remains flooded and will remain so for the forseeable future. All production reported in Q3 was from the start-up of operations at Dynasty Goldfields. There was no mention of the contract mining which has the contractor receiving 35% of gold sales for their mining and transportation of the ore from the DGF Project. Core Gold pays for the processing of all material and receives 65% of all gold sales and 90% of all silver sold. One of the small open pits at Dynasty Goldfields. ( coregoldinc.com ) The author of the IncaKolaNews article only chose to mention the insider sales of the former CEO and former Chairman of the board in his article. Why was there no mention of Keith Piggott, Gregg Sedun and Javier Reyes initial investments in the company in 2016 ? Or, Keith PIggot's insider buying of 120,500 shares in March, April and May 2017 ? And no mention that all three individuals also took part in the recent private placements in June and July. Seems to me that the key people are buying, not selling. The article failed to mention that when Rob Washer was CEO of the company, he loaned a total of US$2 million through his own funds to try to bridge some cash flow problems when the Cabo de Hornos underground mine at the Zaruma Project encountered some flooding issues. The US$2 million in debt was eventually settled in two share issuance transactions, the first on Sept 5, 2015 (4,245,885 shares issued at C$0.45 for US$1,439,500 of the promissory notes he held), and the second time on Sept 12, 2016 (6,124,533 shares issued at C$0.15 for US$700,000) for the remainder of the promissory notes held. Rob Washer is retired from the company, he's most likely selling off shares to recoup some of the money he loaned the company in the past. Last time I looked, you can't pay for living expenses with shares ...... And one more thing, the article also states ... " (if the workers hear about a millionaire stash of cash they’ll want their repayment …or else)" ..... I have heard from non-company sources that the employees have already received the back pay they were owed. That article was not very well researched, contained a number of factual errors and only chose to report on the sell side of the insider activity. .