samuel, it's not clear who the creditor is, or how much they are...

samuel, it's not clear who the creditor is, or how much they are owed. The last AR showed minimal borrowings (for a house) but the Dec qtrly showed borrowings of $2.375 taken during the year. Who from, and for why, is not clear. The activities report mentions borrowing $3m to fund the Black Mountain acquisition - but the cash flow report says the company hasn't drawn down any loan facility (top of page 3 of the 5B).

The whole thing looks a complete mess - IMO you'll never get anything out of this, you'll need millions to buy off the creditor (and CCU managed to raise promises of $400k from existing holders, from memory?) and then you'll need funds to keep it on C&M. When did it last run? How much has it deteriorated already? How much working capital will be needed when the POS revives, and how long is the open-ended commitment to C&M? Plus, someone, somewhere will need to provide for $3.5m of mine rehabilitation provisions, as per the AR.

All the mucking around with Red Arrow, Black Mountain, Platinum, complicates what was a simple silver mine. I'd suggest your best bet is to see who buys the assets, and then when silver takes off, buy shares in that company.

For anyone who feels that management has misled them and can afford to do something about it, then IMO your first call should be solicitors. But in my experience that is usually a costly exercise with no success.