I speak for myself, though I'm sure others agree, but I'm not here to protect you or anyone else that decides to put their blinders on. There obviously might be a play here where you or anybody else can make money, but unfortunately it will be at some future investors loss.
My motivation is clear. I lost a lot of money here and have since engaged in a number of detailed correspondences that have made me believe, with 100% certainty, that there never was, nor will there ever be, any plan to actually produce anything or make money in the long run. Furthermore, I believe with 100% certainty that the company has walked a very fine line of blatantly lying and stretching the truth. They have and continue to operate with a very high level of deception.
Let me use Bob's most recent correspondence to explain...
"Three weeks ago, the CEO returned from an extended stay in the Lovelock/Reno area where he was working on a “Restructuring Operation” for the company as well as began overseeing the daily operations that he has assumed in Nevada."
- Don was in Reno over that time period. I know that for a fact. The "restructuring operation" was simply cleaning things up in Lovelock so that they didn't get fined by NDEP. Cleaning things up consisted of bartering away the company's equipment to "meth heads" (as they were described to me) in exchange for cleaning up the antimony ore that was being stored in a manner that violated NDEP guidelines. Restructuring involved letting go their site manager, Miles, in Lovelock. They owed him roughly $20k of which they paid him $10k with company assets.
"Additionally, in December, the CEO also spent over two weeks following the resignation of the COO, evaluating and assessing the day-to-day operational process that was currently in place. "
- There were no day-to-day operations. Don had not given Jimmy any funds since August.
"The COO decided to resign after being presented with “Just Cause” for termination.
The Reno Office was also discontinued upon the company accepting the Resignation of the COO for “Just Cause” in December 2014. "
- I'm not sure what the "just cause" was, but I do know that Jimmy sold some assets in order to pay some vendors/employees since Don wasn't able to give him any funds. The Reno offices were closed because they have no use for them since there are no operations.
"The CEO has returned to the Reno/Lovelock/Las Vegas area this week as he continues to analyze and work with vendors, investors and government agencies that are involved with the operational part of the business. "
- Not sure what they're doing because there doesn't appear to be anything going on and nobody has been paid. Could be related to closing Fencemaker.
"The company has put in place a “Restructuring Operation” that is appraising and acting on “financial restructuring programs, accounting & bookkeeping, alternative dispute resolutions, capitalization, and debt negotiations” to name a few areas that are being addressed.
Additionally, the company took action on several items that have not been completed by Coronet Metals as per the SPA agreement.
The company has already provided $140K to move the Liberty Mill into operation.
This has resulted in the company notifying Coronet thru a legal representative of the concerns and matters that need to be addressed before the final $60k is delivered per our agreement. "
- Well, where should I start? There is nothing positive here. They apparently did pay them something, but they couldn't come up with the rest within the 60 day window. There is no agreement because Coronet terminated per their PR a couple months ago. They had the right to terminate the LOI at any time under the due diligence clause in the agreement.
"The CEO also has been in regular contact with the financial institution that agreed to fund the $200k Liberty Mill venture to keep them abreast as well."
- I get a little confused here. The language would make one think that they never funded it? "Agreed to fund" $200k or "funded" $200k? My bet is they never funded FLPC for the agreement. Robert Papiri of Tangiers is the investor in question here. As I understand it, he was the only one left at Tangiers that supported FLPC, but he was not able to get them funding if they could no be operational, which they couldn't be.
"The company continues to address the company’s SEC filings and much of the information is presently in the independent auditor’s possession.
Sir, there are many parties involved to get the filings up-to-date, as well as the initiating 14A process for the A/S increase which include the company providing additional funds to perform this tasks.
Once these items are completed and funding confirmed, the 14A will be filed and the shareholder meeting date will be announced."
- The information is in the auditors hands and they're not doing anything with it because FLPC owes them more than $20k already.
"It should be noted, since these tasks do require funding, the CEO has been involved in numerous conversation and negotiations with our current note holders and other parties on these matters as well. "
- Exactly the problem. Nothing has happened because it takes money to do these things and they are flat broke. As time goes by, the worse it gets. Getting $100k from someone isn't going to scratch the surface of their issues. It's an inescapable situation that ends only one way, bankruptcy.
"Furthermore, daily operational objectives are being addressed and/or scrutinized as the company continues to function in an exploration/development status. "
- They make it sound like there is people actually doing work, but there isn't. Nobody has been paid and everything is in stand by mode.
"The Fencemaker Mine is in a standby state and parties are being contacted as needed.
The company continues to pursue operational concepts for the mine property."
- Read this carefully... Fencemaker is closed and they are trying to figure out what the hell to do with it. Notice "property" is not plural. Fencemaker is the only thing they have left and they still do not have a business plan to make it turn a profit.
"To further answer several questions concerning the antimony ore; 1000 one-ton bags of Antimony have been properly label and marked for shipment, and the expectations are to get this material processed at the Liberty Mill."
- Liberty Mill has "conditional" permits and nothing for Antimony nor the ponds to store that much ore.
