The Company’s Management is not prepared to comment at this time on its chances of securing a buyer for either of the “Bouse” or “South
Copperstone” Gold Exploration Properties, or both; but is prepared to state that it is not an unlikely possibility at this point, with the price of
Gold trading at all time record highs at this date.
The Company financial situation in the 2009 year rendered the Company’s Management incapable of employing personnel to interact with its
stockholders and to produce costly announcements and other reporting to its stockholders. This has led to extreme negativity and hostility
towards the Company and its Management in the financial community. This is a situation which the Company’s Management would like to see
rectified in the near future.
Management of the Company is not prepared to disclose as to what price it is seeking for the Company’s interests in the “Bouse” or “South
Copperstone” Gold Exploration Properties; nor the provision of any disclosure whatsoever as to the sale terms and conditions which it would
be prepared to accept from any buyer of these Interests. The Company’s Management is of the opinion that Disclosure of this information
would not be in the interest of the Company’s stockholders at this time. Should these circumstances change, Company Management will issue
some guidance to its stockholders in respect of the pricing of these proposed transactions.
Management wishes to stress that there is no guarantee that a suitable and qualified buyer for either “Bouse” or “South Copperstone” will be
found and that the price of Gold is extremely volatile and may not continue to trade at these current high levels and that Gold prices could drop
in value very rapidly in the immediate to near term.
Management of the Company does not wish to; and is in no position to comment on the value of its interest in either the “Bouse” or “South
Copperstone” Gold Exploration Property interests, at this time.
The amount of US$4,285,855.65 (Four million two hundred and eighty five thousand eight hundred and fifty five dollars and sixty five cents)
owed to Loan Note Holders (as detailed in this Filing, plus accrued interest on these Loan Notes) and to other Creditors; will be required to be
deducted from the proceeds of the sale of the Company’s interests in the two Gold Properties.
It is possible that the Company may be successful in settling part or all of the various outstanding Loan Notes into shares of the Company’s
Stock. In this event, the amount of shares outstanding will be substantially increased; this could result in a reduced value per share of the
Company’s Common Stock.
Management of the Company wishes to stress that any and all published and previous valuations of these Gold Exploration Properties should
not in any way imply a current value of these Gold Exploration Properties. These previously published and stated valuations of these Gold
Exploration Properties may well be very significantly lower than previously quoted. These valuations were based solely upon transactions with
third parties which were not concluded by the Company.
