Re: Regulators must have Bigger Fish To Fry posted on Oct 24, 11 10:14AM Use the IP
posted on
Oct 24, 2011 04:40PM
Edit this title from the Fast Facts Section
Balducci wrote: "There are many valid criticisms against WTG, but I think this is not one of them. They bent over backwards explaining that this revision was for legal / technical reasons only and was understating what they believed the true resource was."
You are likely better informed than I. However, WTG/CMM may have bent over backwards giving their version of things but I think the truth is that the regulators were insisting on a 43-101 and it would have taken longer than they were prepared to wait to file a realistic one.
In my opinion this was misleading and dishonest to produce a 43-101 that everyone (including WTG) knew understated the resource. Again the regulators should have prevented this.
It suited their purpose to understate the resource because they wanted people to believe that Lamaque was a dog. Now that Finskiy has stolen CMM, the truth is coming out that Lamaque is a good property and now they are hiring senior managers to ramp up production.
Next they will produce a 43=101 that shows the real resource.
Lets face it WTG brought very little to the table and Finskiy ended up owning all of CMM properties including some very good exploration properties in Val D'Or.
When have you ever heard of a takeover bid where the owners of the company end up losing value? Perhaps Rio Tinto should be offering $.50 for Hathor's Roughrider deposit?
How can you tell I am bitter?
SN