Bob is a geologist and knows this exploration industry well.
Yet he was taken for a ride and he is angry.
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Iamgold finishes off Sanatana

In the latest and perhaps final chapter in the saga, it seems Stephen Letwin couldn’t steal the property legally so he’s trying to steal the property by bankrupting Sanatana.

Sanatana is giving away the project at cents on the dollar. The only consideration of management is paying off the $1.3 million in bills still unpaid. In reality they are trying to sell the project for just enough money to pay off the current bills. $2 million is cash and the remaining $3 million is confetti that may or may not exist down the road someday.

I get really upset because over the last 15 years I’ve been lied to so many times I can’t count. Sanatana management didn’t exactly lie to me, they just didn’t tell me what I needed to know so I could fill in my readers with what they need to know to make reasonable investment decisions. They lied by omission. I needed to know a year ago that they were running out of money just keeping the doors open. This stock was the perfect call on the price of gold. All management had to do was keep the doors open.

http://www.321gold.com/editorials/moriarty/moriarty011316.html