Materchef and a Master Class

Itsagas,I’m not too sure of your relationship with TEG but you seem to be one of the better promoters of the Company. Why Im not too sure if you honestly look at the facts in front of you.

Here are the facts for you;

In July 2018 something at Cliff Head broke and production was shut down.

By October 2018 they had no money and Cliff Head pumps had broken down.

TEG raised about $4.5 million money in October and November 2018 from investors and shareholders at 6.5 cents.
Unfortunately, I was one of those dumb shareholders.It used $2 million of that money to buy an extra 15% of that permit that had the failed Xanadu thing. I am told they had to pay 15% more of the seismic in 2019 and it all counted for nothing. I mean what a dumb decision to pay for something before you knew if it were any good. Aren't we paying these guys to make good decisions based on sound fact. They seemed to have flown by their pants on that decision. The rest they spent fixing Cliff Head. Yours and my money was spent and up in smoke

By mid-2019 they had run out of money again and Cliff Head had broken down again

So, in September 2019 they got another $3.6 million from investors at 7.5 cents. It appears they spent most of this on getting production back at Cliff Head

By mid-2020 they had again run out of money and Cliff Head had again broken down.

So, they raise another $2.2 million at 3 cents per share to fix Cliff Head

I do see a pattern here.

Cliff Head is a money pit and has never produced economically.
Shareholders and investors keep giving money even though the share price moves backwards over time.
On the positive side it a great business since it allows Mr Turner to raise money from investors and shareholders. That money is used to keep the old girl going and keeps paying a fat executive wage. What a great business if you are one of those guys petting paid. Not so great for shareholders and investors though.

We have seen a Master Class in mining investors and shareholder of their hard gotten funds using the promise of a continually failing operation as the lever to pry money from their pockets.

Come Friday over 73 mill new shares issued at 3 cents will come onto the market. Itsagas thinks they are long term holders. I think they will rapidly sell to try and recoup some short term profit. The challenge for the master class experts of Mr Turner and the Fresh Equity guys who put their friends into this stock for their 6% ($132,000) fee is to try and get enough support to soak up the selling.

I predict the SP will fall rapidly to 3 cents and possibly a little lower.

If all else fails then Master Chef will be looking for someone to run its Master Classes for them.