Follow up e-mail to CSG posted on another BB before
posted on
Jun 23, 2008 07:01AM
Michael,
Thank you for your response, although I can understand there would be a large volume of work, and a number of investor concerns, as the xxx of a company, the first thing I would have in mind in such circumstances if I faced such a crisis is a plan of action to resolve it. Thus the communication of that plan should be a simple process.
Naturally noone should expect a response with any form of selective disclosure, but the longer one takes to communicate, what in my mind is a simple action plan, the less confidence one inspires ... after all that along with the production of the statements seem to far outweigh any other administrative issue CSG may have.
At this point the company has a serious credibility issue and the presence of a new CEO although a good first step does not erase that. I am less interested in being right and receiving apologies, then the protection of my asset, and must say the length of time in adressing a very legitimate concern and for that matter not announcing it via the website etc. to all shareholders gives me reason to doubt the magnitude of the credibility issue is not well understood.
The investors in this company, many of them in a negative financial position require leadership in communication or the job of raising the value of this company to where it should be will be made more difficult. I do hope those involved are indeed up for the challenge because more than my patience is wearing thin.
Best regards,
"orgy"
info@castlegoldcorp.com wrote:
Hello "orgy",
You are right, an outline to get the stock trading should have been communicated and I am sorry it wasn't. The sheer volume of work required has taken up the vast majority of time since mid May.
As a general outline the process would be as follows. One, file the Q1 FS and MD&A and coincident with that issue a news release. Two, apply to the BCSC and OSC to have the temporary cease trade orders lifted. Once they lif the orders we then apply to the TSX-V to have their temporary cease trade order lifted. As to time frames, filing of the FS and MD&A is very close. The same day we will apply to the Commissions.. Once the applications are submitted I cannot comment on time frames as they are under the control of the Commissions and the Exchange.
As we move forward and get a better feel for events I will keep you informed so long as I am not engaging in selective disclosure. Timing to lifting a cease trade order is probably a material event.
Regards,
Mike
moconnor@castlegoldcorp.com
To: info@castlegoldcorp.com
Subject: Re: stock halted. (emergency response requested)
Thanks Michael, given the trade stoppage, I would say an action plan from the company is not much for the owner's of the company to request? Is one forthcoming or is this not considered an urgent situation?
info@castlegoldcorp.com wrote:
Hello,
My name is Michael O'Connor, I am Manager of Investor Relations for Castle Gold Corporation. Tom Atkins is currently at the El Castillo Mine conducting an operations review and planning session. I will send Tom an email and ask him to contact you. In the interim if you would like to call me I would be happy to review the current sitiuation at Castle Gold.
Yours truly,
Mike