The papers that came in the mail today are for approval of the sale of the StrataGold properties in Guyana. The sale is for $600,000 to an outfit named Alicanto Minerals.
Not sure what they will do with $600,000 other than pay themselves but the board and management are urging shareholders to approve the deal.
They claim it is in the shareholders best interest to approve the deal but they don't go on to expound what the benefit might be for shareholders, in which case I don't see any benefit.
Any other thoughts?
A penny stock will likely remain a penny stock or go belly up ... one way or the other the capital loss is about the same. I don't see any possibility of a capital gain.