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11/19/15

Atna Resources (ATN.to) and IKN

This humble corner of cyberspace has had several things to say about Atna Resources (ATN.to) over the years and, as you might guess, none of them were very positive. The last time we covered the stock was on August 4th in this post entitled "Atna Resources (ATN.to): A rant". There were a bunch of charts to explain the woeful state of its financial affairs (go have a look, they're fun (!)) but to give an idea of the whole thing, here's how the piece ended:
Amazingly, there are still idiots who in 2015 have been recommending this company's shares to people, saying that it's cheap and stuff. With that in mind I'm going to put the next bit in bold type, just to make sure it catches your eye at the late stage of a long-ish post:

You may think 7.5c, or even ATN's recent 10c or 11c level, is a cheap price for a share price of a producing and operating gold mining company. Believe me, it's about to get a lot, lot cheaper because once Waterton's done with ATN this equity is going to be smashed into tiny little pieces.

Do yourself a favour, ladies and gentlemen of the retail investment community, make note of the names of the people who've been pumping this utter junk at you and remember never to listen to anything they have to say about investment ever again. "Stop The Stupid" applies to your own trades, it also means that these blithering idiots need to be weeded out of the mine chattering class as soon as humanly possible.

Atna Resources Ltd. Announces Filing Of Voluntary Petition For Relief Under Chapter 11 Of The Bankruptcy Code To Implement Restructuring And Delay In Q3 Filings
And later in the NR...
"The Company and Waterton Precious Metals Fund II Cayman, L.P., Atna's pre-petition lender under a secured facility, have negotiated a consensual use of the Company's cash and have entered into a debtor-in-possession financing arrangement (continues here)"

ATN is under trading halt due to today's news. Any further questions?