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Wasn't that lead time (ex-work) ?
Me thinks much might hide in "ex-work" whatever that might be.
value of non-producer held resource in the ground didn't seem much changed today, except maybe zinc
The technology already is ancient - do the patent research, the first patents for heating water and for heating liquids granted not long after consumer scale use of microwaves appeared - going on a half century now. Doesn't that in itself, without commercialization as envisioned by WDRP tell the story ?
Certain not the language entertained of late for posts hereabout.
Nevertheless
all-in costs of $10.65 per Ag eq. oz;
that is the part that I liked the best, although the new faces available for higher grade mining was nice
With any luck they will find the change mine plan has had enough effect on bottom line that they will resume exploration drilling on the proximal source definition
Do you really think they are so dumb that they expect the chatter over the lawyer prep would be here ?
longest no post streak for this in memory
idk, the pps seems to have had about 20% haircut on the news of rights offer, rollback, name change . . . but that could be market and not reaction to price in rollback etc. Seems to me the OTC shares had been around 0.03 to 0.034 and went to 0.025 to 0,0275
What I do know is the right offering and its characteristics has made me extremely distrustful over anything that the present management and board do. Its totally nonsensical nature and exclusion of US investors that use OTC, and how this is entirely counter to the PR's stated objectives in making the rights offering has lead me to believe that I cannot trust EXS leadership and its guidance and that lack of transparency into their actions and direction for the company is of no concern to them.
I do not feel that shareholder loyalty or satisfaction, except to controlling shareholders, is at all a consideration to any mid-tier or major that might be snooping at properties. When bought all of those would be shed anyway or transformed to their own shareholders with entirely new loyalties and satisfactions to build.
Can EXS move forward with a rollback, or without a rollback.
That seems to be the question. I am not sure either is more or less likely at this point in time.
JMO
how much of the usual drop in share price due to a rollback is already in the current price ?
Fire River Receives Default Notice
VANCOUVER, Oct. 8, 2013 /CNW/ - Fire River Gold Corp. (TSXV: FAU), (OTCQX: FVGCF), (FSE: FWR) (the "Company" or "Fire River") announced today that is has been unsuccessful in renegotiating the terms of its Senior Secured Gold Stream Credit Agreement (the "Credit Facility") with Waterton Global Value, L.P. ("Lender") and has received demand for payment from the Lender.
The Lender has also notified the Company of its intention to enforce the security granted to the Lender pursuant to the Credit Facility and of its intention to take the Company's shares in its wholly owned subsidiary, Mystery Creek Resources Inc., in satisfaction of the Company's indebtedness to the Lender in accordance with its rights under the British Columbia Personal Property Security Act. The result of such realization process by the Lender would be the loss of substantially all of the Company's assets. The Company knows of no reason that the Lender's realization process will not complete as proposed.
Prior to the demand for payment, the Board of Directors of the Company engaged in significant efforts to find additional sources of financing for the Company. Ultimately, however, the Company was unable to find additional financing, primarily due to the current difficult market conditions.
FIRE RIVER GOLD CORP.
"Blane W. Wilson"
__________________
Blane W. Wilson
President and CEO
That "very enthusiastic and full of exuberance" does have the sound of a ghostwriter in India.
Unless I am remembering wrong, that PR was around the time, just after actually, of the last time the hired clowns took over the board for a couple days.
Man, they will be wading in deep, deep do-do if the SEC were to ever all them on that one (or any of a number of other PRs, but that is a prime example).
they were recording the test and all was very good results
I thought the PR meant that they had nothing working and needed components from China for any of the plan a, b, c, . . .
Otherwise, why would they not be testing already if the awaited components were only for a backup plan?
I can appreciate your effort to discover other alternatives for EXS to fund exploration. I doubt any non-equity financing is possibly without fully owned assets to pledge as collateral, that is, only receiving secondary, subordinated claims on the properties is not attractive. Even if it were possible to provide primary, first claim liens on the properties where there still exists annual payment and/or work requirements, to a lender not able to run an exploration program to fulfill work requirements such a pledge would not really be very attractive.
If such a way for funding could be found, what is the probability that the loan facility would be repaid? or would that just be gambling the property away if the work did not enhance the ability to raise funds by equity offerings sufficient to meet the repayment?
IMO it is more likely that some of the properties could be optioned to other juniors which could provide some modest cash inflow and take over the cost obligations EXS has to meet to hold the properties, thus reducing expenses. Such would likely be insufficient to do much more than cover administrative expenses of EXS and not fund TPW exploration.
There is a line of credit ? Not certain of this, but I would doubt that any property option that has not matured, that still has payments and work requirements needed for it to vest, would hold any real value as collateral. Does EXS hold any of its properties 100% at this time without obligations yet to be completed?
Your comment on the sector market and its impact on virtually all junior explorers with less than the best prospects is well taken.
Pretending that is the only problem with EXS will imo accomplish nothing (other than letting EXS strategy continue as is).
Clearly something beyond the state of the market sector is involved.
Also, clearly without some pressure to realize value for shareholders for a change things will continue as they have been.
Good post STR8, multiple good, and imo valid, points.
Great find. Thx for bringing both items of information to the board and plesse keep of the good efforts on behalf of those on this board seeking truth.
maybe it is part of that keen business sense and upstanding character posts have recently reminded us about, that Andrew saw the moral imperative to do some gratis work for WDRP . . .
(not that he started and was instrumental in filling the shell with Robert's astounding technology or anything)
MUX (for the moment) bucking a pretty strong sector trend
surprise, surprise
but Andrew is only a contracted PR person, right ?
Clearly the only way that the rights offering raises a single cent is if the share price goes to above CA$0.05 and holds there before the offering ends.
Is it actually possible EXS mgmt has such limited business sense that they believe that by thinking and saying that EXS is undervalued they can ignore how everyone else seems to value it?
Otherwise, they know the rights offering is a non-starter. That means the whole "TPW financing plan" is the other two parts of the outlined actions: rollback and name change.
That would have to be immediately followed by a financing as EXS must be close to broke at this point in time, and if not then surely after the expenses of the Annual and Special Meeting. From what I have been seeing companies with marginal established resources and with expenses to be covered and with empty treasuries financing have been at unit prices discounted to market that are a full share and a full warrant, for less than market price for one share. Great.
JMO
Thx for posting/sharing.
That response is simply delusional.
The rights offering gives existing shareholder the chance to retain their position in the company !
The open market gives them the chance to increase their position at half the price !
Delusional I say !
I didn't see it in the earlier posts either
Not so. Scalability was NOT a consideration as there was no scaling involved in a single cavity design. Doh!
The point of that was to establish cavity optimization.
One would think you worte the misleading BS you seem so quick to claim to know what it said.
I am done with the foolish game for now, as it is clear that no link to anything from the company can be provided that is "proof" of anything other than that the company talks slick and makes unsupported claims.
Except that there is proof released on numerous occasions and very visible to others. Good enough?
You are probably referring to the obscured results that had been provided for the single cavity water heater (pre multi-cavity heat engine days).
I understood that was abandoned after seeing there would be no market niche that a single magnetron unit could satisfy due to lack of sufficient gallon-degree change from one magnetron.
I am so glad that balanced post in review of the matter was acceptible.
Let me quote from that post
On the other hand it is 100% correct that Wanderport has provided no proof of anything so far.
News: haven't we already heard this ?
IMO these posts of empty claims need to be kept over on FB where people are used to hearing this foolishness and empty attempts to drum up the troops into blind belief
In other words it is not possible to provide a single link to any "proof" with force greater than a verbal claim.
Thought so.
Tons of proof of a working unit has been presented
That is based on facts released and very obvious.
"They do have a working unit"
Oh really? And that is asserted without IMO or similar qualification.
So pray tell, how is that insider information available that such confident posting can be made?
If there is a working unit why is there continuous delay in providing the unit's test data as has been promised ?
Please provide some basis in fact for the assertion that was made.
Otherwise such a post is only to be seen as more continuation of the comedy of misleading postings.
Anyone? Nothing from company?
Tnx for update info ...
Has anyone received any straight-talk reply from EXS that helps understand what in the world they were thinking with the rights offering available only to Canadian share holders and at such overpricing ?
then evidently we have not made a mistake in understanding the continuing delay and preparations for what come next
no one seems to be keying in on what has been an on-going problem for many months . . . apparently the dynamic control mechanism/circuitry is not functioning forcing all the testing to be set up manually . . . something that has repeatedly been mentioned in a couple words without drawing out the importance of needing to manually configure