News This Week
posted on
Sep 27, 2010 11:57PM
In Chapter 7 BK
Two bits of news, neither earth shattering.
First on the FG civil case the defendants Scott Dockter, etc. Submitted a motion to dismiss the case. Then the judge gave deadlines for the Plantiff (platinum) to respond. What does that mean to us? I'm more worried about FG reorg'ing successfully without keeping any old common stock than I am about chapter 7. Possibly the fear of a class action may have FG keep some of the old commons. As the civil case is still a fear, which lays the grounds for a class action, that thought may help.
Second, Steele resources (Scott Dockter's new company) announced a purchase of a new property.
http://finance.yahoo.com/news/Steele-Resources-Corporation-iw-2569116354.html?x=0&.v=1
The property is called Fairview Hunter. Sound familiar? That was one of FGs exporartion properties. Apparently one that SD liked. The property is now owned by Platinum from the Chapter 11. SD bought it for the equivalent of 100k. So SD is apparently in discussions with Platinum and at least speaking terms. Does that mean any other discusions? No idea.
http://www.firstgoldcorp.com/fairview_hunter.asp
-Y