Futuris Company (FTRS)

[getty]

'Mission Mining Company Receives First Benefit Under the Financing and Captilization Agreement date May 4, 2014'

'Las Vegas, NV, October 3, 2014 – Mission Mining Company (OTC Pink: MISM) Mission Mining Company is pleased to announce that it has received the right to utilize a loan guarantee issued by a major Western European Bank as collateral for a loan of up to 50,000,000 Euros (approximately $65,000,000 U.S. dollars). This is the first benefit received under the major financing / capitalization agreement executed by Mission Mining Company as of May 4, 2014. Mission Mining Company was offered the option of taking a cash loan or the guarantee, and has opted to take the right to utilize the guarantee, which would allow Mission Mining Company to negotiate and arrange its own loan and thereby secure a larger principal sum of loan proceeds to work with than the cash loan proceeds would have been. Mission Mining Company is now engaged in negotiations with potential lenders wherein the loan guarantee will be pledged as collateral and credit enhancement in order to obtain a loan.'

What a load of B.S.! If you read the prior press release carefully the provisioning of funds was already to have been made. Is not the mine itself the collateral for any loan, wherein if the mine had any demonstrated value would not need a third party's collateral.

I am afraid this all is, IMHO, simply the continuous mumbo jumbo of Mission's largest shareholder who is a poster boy for failed transactions, and hence a business school case of how NOT to transact. Now, if he steps away with regards to ANY ownership or control, directly or indirectly, only THEN may Mission have a chance to finally pay for a REAL top level reputation assay that would undoubtedly cost between $500,000 and $1,000,00+. It's simply that Mission and its major shareholder have NO $funds to proceed on their own without significant third party investment or debt. And the existing largest shareholder has a known reputation of being most difficult to negotiate with.