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Alias Born | 05/10/2014 |
Monday, August 04, 2014 2:03:42 PM
These questions have already been answered multiple times. Please note the answers so we don’t spam the board with the same questions over and over again.
The new shares for the purchase of the iron ore mine and the 14 million private placement have to be issued before the split could have taken place. The reverse split is a signal that the shares for the iron ore mine and the private placement is completed. I am betting that news to this effect is most likely very imminent.
If this is true then we are about to:
Proceed as fast as possible on the full reporting process. We are also going to start the drilling program, three drills working 24/7, 375 holes, over 56,000 meters of drilling on just the largest anomaly and at a cost of 4.5 million. We will also immediately start the ramp up in production to 15 million tons a year.
Look at my past post for details of the drilling program: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=104368665 Or see the quote from this past post below:
“Once our 14 million capital raising is in we will start an elecromagnetic assessment of the property by flying airplanes with magnetic reading instruments in them over the property. This will create a magnetic map. This process will take about three weeks. The geologist then put dots on the magnetic map. Those dots are areas where they will drill. At this point they will IMMEDIATELY start drilling, three drills running 24/7. The drills are already in place and waiting for instructions. The drill program will include 375 holes. See page 17 of the PDF: http://www.tonogold.com/i/pdf/AGM-June-23-2014.pdf That is a huge drilling program, especially considering all of those holes are going into just the one large anomaly circled in yellow. See page 17 on the PDF.”
This mine has been in production since January of 2013. Obviously they are permitted.
Page 4 of the Iron Ore Presentation link on the Tonogold web site:
“All necessary permits are in place”.
http://www.tonogold.com/i/pdf/Presentation_Iron_Ore_2013_10.pdf
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