I originally issued a news release stating that this is a 5 rated stock, along with a youtube analysis (which I subsequently deleted). I have reduced their rating from 3.5 to 3. I was fooled by their company presentation, which implied they had a loan for $23 million and were proceeding with constructing mind and beginning production in 2013. However, this presentation was from October. Subsequently, in November they issued their last news release (that should have been a big red flag) that they were looking for a JV partner or to sell the project. Also, their March 2013 MDA on Sedar.com shows they are out of cash and are not proceeding with production in 2013.
Their last presentation is misleading, and gives guidance that they are going to build and operate the mine. This is unlikely to happen.
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