Re: What little news we have.........
in response to
by
posted on
Jun 11, 2010 01:49PM
In Chapter 7 BK
I totally agree. This stock has been a fiasco since I bought in early last year. It boggles the mind that it went downhill so quickly, although there were a lot of mitigating circumstances which helped it slide, i.e., lack of funds for production -- that'll stop anyone in their tracks real quick.
I don't believe the management were terribly competent in running a business; however, having said that, they did have me believe all that hype about Northwest buying in. Note: It would be interesting to find out if FGD's lawyers knew about the prohibition of selling companies located near armed forces facilities to foreigners. Either way, if they knew and didn't say anything, or didn't know when they should have known, they are in the wrong and they should have their knuckles rapped.
The part I really don't like about what has gone on is that it seems there has been a problem with the gold numbers being touted as to just how much gold there was in them thar hills. From what I can gather, management were relying on the previous owners numbers before finally admitting to greatlyreduced amounts of gold in the court.
I paid my money and I took my chance; however, something just smells bad.