AYN 0.00% 0.1¢ alcyone resources ltd

They haven't got an open pit mine running yet.But they want to...

  1. 30,924 Posts.
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    They haven't got an open pit mine running yet.

    But they want to re-open a narrow vein mine which was almost bankrupt and closed down by the state of Colorado earlier this year because of pollution and illegal mining.

    http://www.mancostimes.com/article/20130718/NEWS01/130719823/State-shuts-Red-Arrow-Mine-

    I wonder if the New York hedge fund that promised to inject $25m (according to the CEO) was Platinum?

    http://www.denverpost.com/ci_23635782/danger-at-mancos-gold-mining-operation-downplayed-by

    "Liukko said he is in the process of filing a lawsuit against a New York hedge fund that had promised to invest $25 million in Red Arrow but paid him "only a fraction of that."

    "We still believe there is a very rich deposit there," Liukko said.

    Records found by inspectors in a Red Arrow building showed that the mine in recent times had been producing one to two ounces of gold per day."

    Sentiment should read "Abandon ship!"
 
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