Once price drops below 0.0004, Magna Group, LLC will start converting and we will see about 500 million shares at 0.0002 in a few days, add this 500 mil to a min. existing 600 mil ( MINIMUM) and there will be a min. of 1.1 billion shares and a 3rd RS in the horizon, at least 200 shares to 1.
Also Robber and Guzzler will most likely pocket the $400,000 that they are going to receive from Black Fire on 3/31/14, no news orr updates, just spending the money quietly, business as usual
Item 1.01 Entry into a Material Definitive Agreement
On February 18, 2014, the Company completed an amendment to its Option and Asset Sale Agreement with Pilot Metals Inc. As amended, instead of $850,000 to be paid on March 31, 2014 and $1,000,000 on the commencement of commercial mining, the Company received $200,000 on February 18, 2014 and will receive $400,000 on March 31st and $1,500,000 on the commencement of commercial mining. Pilot Metals has an option that is good until September 30, 2014, to purchase $500,000 of the final $1,500,000 payment for $250,000. All payments are subject to a 15% royalty to be paid to Platoro West.
