Today's News - What I Figure

Today's news had no effect on share price and volume, meaning it was priced in. So NO insider sales occurred as a result, since the sale on Monday was a 'marker trade.'

The lengthy delay of news of any sort meant something went wrong. I presume any deal with Waterton is off. They found out that they had been lied to, and that information given out and obtained from the company did not match what they saw on the property. They also found out that GBN.V was able to prepay its loan to them, which meant financial information was withheld, where financial disclosure was expressly demanded in the agreement.

They walked away.

They also found out that trying to sell bullion in the over the counter market meant selling at a discount, thus the premises for the agreement fell apart. Neither party could then live up to their agreement, so the anticipated business partnership dissolved. Of course, no mention of this was made.

The smart thing to do is buy the miner in the event of a currency devaluation, rather than grab at the bullion.

As for Clarus, they will see that Netolitzky is in some apparent conflict of interest, and that information obtained from the company does not match what you see on the ground. If they had an ounce of common business sense, they would recommend that he resign.

Of course, they're out even if they so much as hint at it, because the priorty is to keep secrets and run a shell company. But the bigger the stockpiles get, the less you can keep this apparent secret.

In light of recent developments, and last year's results, my outlook of paying out all earnings as a quarterly dividend after operations and development, meaning all margin after taxes doesn't look like such a bad idea.

There's nothing that the management can point to that has created shareholder value in any way, shape or form in the last 12 years. That they state now that they are going to retain Clarus in order to create shareholder value is an outright lie.

They may be considering a share rollback of 10:1. Thus with the share price as cheap as possible, you can calculate your holdings as a percentage of the float and buy shares in order to fill out your requirement. The cost of doing so is very much reduced here.

I don't believe in this management as I once did, though I believe in the prospect and the gold price.

-F6