And additionally here's a Shareholder Letter:
Dear Shareholders,
my apologies, there has been no communication from your Board for a long time and I would like to explain why.
Basically, we spent considerable amounts on trying to retain our listing on the Pink Sheets and ran low on funds at precisely the beginning of the metals slump. To complicate matters , payments to the El Torno mineral title owners were in default and it looked as though we could lose our only asset.
We did not wish to communicate this situation to competitors interested in El Torno.
In December 2015 the management decided to use most of the last remaining funds to commission an independent technical report from SRK, the internationally reputed consulting company, on the gold potential of El Torno.
The report is very positive, stating that the geological setting is good for deep, structurally controlled ore bodies (which can be large) and that surface gold in some areas ofer the possibility of rapid gold production that can be proftable and fund deeper exploration.
I have just returned from discussions in Argentina with a representative of the mineral title holders and am pleased to report that the mineral title owners believe very strongly in the project, are fully prepared to work with us on raising funding and that Soltera has secured the property for a period of eight years.
We now aim to raise sufcient funds or joint venture to develop the near surface gold with a view to rapid proftability and the ability to fund deep exploration for a large deposit.
Yours sincerely,
Fabio Montanari
President
