Many folks here are talking about financing...
...and so am I; I agree that financing is the key to this one. But, if you will, I'd like to point out that we have heard next-to-nothing about "completed" financing. I find this very troubling.
May 5th, 2004: "Delta Mining and Exploration Corp. (PINK SHEETS: DMXP) is pleased to announce the final stages of a US two million (US$2,000,000) dollar financing with a Toronto based investment house. Subject to the completion of legal documentation and regulatory approval, Delta has successfully negotiated a US two million (US$2,000,000) dollar financing with a large Canadian investment firm based in Toronto..." [Prior to "completion of legal documentation and regulatory approval", Delta has "successfully" negotiated NOTHING!]
July 22nd, 2004: "...Delta Mining and Exploration Corp., (Pink Sheets: DMXP) is pleased to announce the completion of a financing agreement with Platinum Equity Funding Inc., a Toronto based investment house with affiliated offices in New York and London...This agreement is distinct from that discussed by the company in its May 5, 2004 news release. Though not completed, both parties are working hard to ensure that it comes to fruition in the near future. ["Distinct" from the May 5th financing PR? What the hell does that really mean? And, let's not forget that it's "not completed".]
July 29th, 2004: "...This potential was recognized by Platinum Equity Funding, Inc with their recent commitment to invest at least $500,000 for continued exploration." [A commitment, per se, does not in any way imply that the financing was indeed finalized. How are we shareholders/owners to interpret "a commitment"?]
August 17th, 2004: "...The financing discussed on July 22, 2004 with the Platinum Equity Funding is expected to close within the next two weeks. [Yeah, right!] The interest in the placement has been encouraging but the closing date has been altered due to necessary legal work that is still to be completed." [So, STILL not completed.]
October 22nd, 2004: "... Delta Mining got permission from the landowner to explore the site several years ago. But the firm is only now [ONLY NOW???!!!] getting together the estimated $700,000 needed for larger soil samples and to search for more kimberlite deposits in the area, Delta chief executive Barry Rayment said."
So, what the hell is really going on with respect to financing and keeping this company operating as a truly "ongoing concern"?
AI
