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.
"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!"
AYN Price at posting:
0.2¢ Sentiment: Sell Disclosure: Not Held