Copperslash: They may or may not have actually mined that 1000T of Raw Ore as I can find no record of any contractor's invoices for doing the job. It may well have been inherited from the site, but cannot be certain. Long termers may know.
As far as mining all that Raw Ore, there are many factors to bear in mind. Firstly, they have been trying to "Restructure" this company for over a year and ahalf , so far with no success as they have found no sponser/investor/funding; call it what you like.
If you have been following FLPC for all this time, you will know they have at least 1.5M worth of Toxic Debt. If per chance, they do actually get any funding, they will be obligated to pay off their creditors, not with 'worthless' shares but hard cash. Taking all this into account, how do you suppose they will have enough cash to pay a contractor to Mine 1000's of Tonnes of Ore AND have it processed? In addition, the Management claim to be funding the business from their own pockets, so they will be wanting it back.
At the end of a very long day, the chances of obtaining funding is very remote, as if it were likely from the start of the "Restructure", they would have got it by now. I would say that physical Mining under current and probably near future financial conditions, will be impossible UNLESS a JV is found who will take on Fencemaker from FLPC and pay them a commission of sorts. This IS possible, but there has been no interest in this defunked, previously Mined twice, Mine. It would involve massive funding to get anywhere near UN-Mined Ore with any worth. Costs would outweigh any sales with no guarantee as what they Mine would be viable after processing.
There IS a possibility that you could make good money here on the basis of a strong Public Notice that says a lot but tells you nothing, if you see what I mean, provided these shares aren't suspended for VERY late Filings which at present, FLPC cannot afford to do. This was in an e-mail to me from Bob some time back.
At the moment this is a very high risk with massive loss potential, but I'm sure you have worked that one out by now? Best CE.
AI
