Poor Chris. The guy never had a chance. He sort of walked into a hornet's nest and gave it the old college try. But as said, the debt and industry are just too brutal to overcome.

What is interesting is this new/newer bridge loan from F&M. Are these not the cowboy's who were working with Inspiration Mines trying to takeover another company awhile back?

Wonder why Jilin didn't step up with more bridge financing. Just what the Dr ordered, more debt with no hope of revenue.

With F&M involved, some sort of reorganizing must be coming. How Jilin leaves this mess with the least amount of blood on their face will be interesting to see. It does make one wonder if ISM is in the stands watching/directing this latest chapter. Just guessing.

R.I.P.

Have to agree. The only good out of this is that he took Dundee Securities to task when they raised the money. His name is mud and he won't raise a dime unless his minions in Vancouver shake the pensioners out of their last dime.

He might as well move back to his mansion in Vancouver. Not trusted in Toronto.

The irony to the Matamac story is that the company was actually worth more (stock price/market cap) before the Toyota deal. I guess mainly due to the CEO giving away half the deposit for such a cheap price. So the shareholders take it on the chin vs the CEO.

Nice work if you can get it.

Looks like these cowboys need another $3,000,000 to maintain their lifestyle. First of all, if anyone buys into this smoke and mirror operation, your nuts! Second, if you do buy into this (call it what you want) the press release forgot one point. Please make your cheque payable to the CEO - Randy Miller, because that's where it will go in the end.

Good luck if you do,

This company has the worst luck. From bad management to extreme debt loads and now this - asbestos found in McWaters Mine. Just hope that the miners dealing with that are tested and found to be clear. If not, this could be a huge liable case.

Then you have to hope that this form of asbestos is only found in the McWaters ore body and not in the others. If so, the whole Timmins area of the Shaw Dome could be off limits.

More will have to be announced by the company soon. The company is probably worth about -.50 cents a share already. Kiss good bye any cash flow for the next few years. Even if it was negative.

It will be interesting to see what JJ will do with the debt thats due at month end. My guess is that they will roll it over as they have all along. What they should do is convert it to equity and take this thing private. Maybe offer the minority shareholders a token price (although they don't have to). Token price? I'll say half a cent per share if that.

Merry Christmas all,

Tan