Wednesday, September 03, 2008 10:24:37 AM
"As of June 30, 2008, we had $16,634 in cash. We incurred a net loss of $2,499,228 for the period April 1, 2008 to June 30, 2008. In 2006, the Company obtained the rights to extract metals from two consignments of tailings, from the Nerchinskiye Rudniki mining dump (the "Nerchinkiye Dump") from Mining Corporation Zabaikalgeoprom Limited Liability Company, a Russian entity (the "Seller"). In June 2008, the Company returned to the Seller the Nerchinkiye Dump due to the absence of financial resources and technological facilities to extract precious and rare-earth metals from this property. As a result, the Company realized a loss on disposition of the mineral rights in the amount of $2,187,254 for the six months ended June 30, 2008 (six months ended June 30, 2007 - $nil).
Sounds like they may have been fooled by Aurus's video
---'When you control what will be seen, you will be seen for what you truly are'---
ibreken
---'When you control what will be seen, you will be seen for what you truly are'---
ibreken
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