CEO Perry Leopold, responded to my email and questions.
"Dear Ryan,
Thank you for the email. It is always good to hear from shareholders, and we appreciate your interest in the company.
As you probably know, and as per SEC Regulations, we can not disclose information that has not already been made public, either by way of press release or our filings. This is for your own protection as well as ours. But I can answer your questions in the context of information that is already publicly known.
Regarding Fraser River, we recently announced that we have received permits from the Province of British Columbia to begin mechanized excavation work at the project site. This work will go a long way towards determining whether the orebody will be economical to mine. Until that time, we can not make any projections on when a mine might begin commercial operations. Besides the economics of the project, there are also a lot of environmental issues to tackle, as well as some political ones with regard to the local population and enlisting their support.and approval for a new mine should we get to that point. But the economics come first. Once we know the project will be profitable, we will then proceed to the next set of challenges on the road towards getting a commercial mining permit approved and issued.
Regarding the US properties we are negotiating to acquire, these depend on whether or not we are successful in securing the funding to not only complete the acquisitions, but to also provide enough working capital for the first year or two of operations. We are working hard on this, and while I am quite optimistic, I can not guarantee it will happen. Once we have some news on this or anything else, we will announce it.
Hope this helps. Please feel free to contact us should you have any other questions or concerns that you wish to have addressed.
All the best,
* P *
Perry Leopold, CEO
North Bay Resources Inc.
corp@northbayresources.com"
