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Yacknl

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Yacknl

Re: searchlight post# 1150

Monday, 08/23/2010 9:23:58 AM

Monday, August 23, 2010 9:23:58 AM

Post# of 4875

Some FG and RC mine update in Senetek's 10-Q on 8/20/10.

http://www.faqs.org/sec-filings/100820/SENETEK-PLC-ENG-_10-Q/

The short of it:

Senetek wants 100% ownership of RC mine.

Excess equipment was sold for 1M

Lab is open for business and making a small profit.

Marketing the property for sale, as a requirement to BK court. No "compelling" bid has been made. The marketing process is near its end. Platinum/Lakewwod want to sell not own.

Platinum/Lakewood/Senetek may offer the court a "creditors bid" for the mine. That process has no begun yet.
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