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Re: rivratt post# 2049

Monday, 11/12/2012 10:06:09 AM

Monday, November 12, 2012 10:06:09 AM

Post# of 2096
The only asset the company holds is the mineral rights on this parcel of land which has some quantity of gold. They do not have the capital to develop the area on their own. A JV partnership is the only way they get a shared revenue stream. With Mineros walking away, there isn't a way to learn what is really there. The best analogy I have is we are sitting in front of a perfectly grilled steak, and don't have a knife and fork to learn if the meat is Select,Choice,or Prime. The big surprise is the timing of the departure. The permit for exploration should have been close to issue. I don't know what they could have learned since they went to option 1, as they couldn't do much that hadn't already been done without the permitting. The DD phase would have been the time to bail IMHO. With times as tight as they are, its going to be tough to find another suitor. And with no cash flow, how long can the lights stay on. I had all the hope in the world for Goldsands, but things look a bit bleak.