Well looks like snow is on the horizon for Groundhog, no bulk...

Well looks like snow is on the horizon for Groundhog, no bulk sample this year, or next by the looks of them pissing away money on a wild goose chase. Looks like they have pretty much hoisted the white flag on any bulk sample in the near future and need to generate some cash flow, hence the wild goose chase to generate some $$ to keep the lights on at corporate and enough $$ on lease holder requirements so they do not forfeit the leases . My guess is they realized the cost to actually get at the sample was going to cost a heck of lot more than anticipated. Road building isn't cheap in the target terrain. Unfortunately it looks like they got tangled up in a bidding war with some vulture funds on their way to the goose chase. Fortunately those vulture funds are pretty good at squeezing out shareholder value, of which of course you will be holding 25% or so. May buy some time for a few years, but at the end of the day your going to need some significant capital to move from explorer to producer on the groundhog lease. Probably why the big boys have walked away from the area over the years. Be interesting to see how quickly they can turn around their 100k ton. May be a niche brokerage business for them.