Firma Holdings Corp. (FRMA)

[Sam Dan]

Appropriate to remind investors of the agreement with MXL
"The project includes a fully permitted 500 TPD Dynamic Cyanide counter current system plant. Construction of the plant was completed in 2013, for approximately $4.5 million and is in excellent condition. It is unencumbered, fully permitted, and it is estimated that it can be fully operational within 4 to 6 months. Additionally, the Magistral project includes the exclusive rights to process approximately 1.2 million tonnes of mineralized mill tailings, grading an average of 2.06 gold per tonne (79,000 ounces of gold).
The agreement calls for an initial cash payment of U.S. $250,000 to Gracepoint and an investment of $2,225,000, over 90 days, to meet current obligations and make various modifications and additional enhancements to the plant, and for startup capital.
1 Million dollars already paid [which is NOT refundable.] $750,000 due by December 20. and final $475,000.00 before end of 90 days.
Unless MXL management is crazy,and I don't believe they are, the JV will be valid and work to start leaching should be started ASAP