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[7Secret7Service7]

FGOCQ Value of Equipment alone pays off debt!

Bankruptcy sale --> http://reliefcanyon.com/Home_Page.html


Read page 7 ==> http://www.scribd.com/doc/30832353/FGOCQ-March-2010-Mor

* Mining equipment , Market value -- $2,000,000
* Crushing equipment, Market value -- $2,000,000
* Processing plant & equipment, Market value - $7,000,000
* Lab equipment, Market value - $11,200,000

Total value = $22,200,000
Secured debt = $19,357,961
NOL's = $50,000,000, see pages 14/15 of court doc.
(This alone prices us @ $.20)
Relief mine leasehold improvements = $86,000,000

Court Hearing ==> http://www.sidedraught.com/stocks/FGOCQ/04202010%20Hearing/Transcript-%5BCourtesy%20Iggles2009%5D-Reno_Firstgold%20Corp_042010.pdf

The Court - the sale will take place
under Section 363, in order to attempt to maximize the value of
If the assets, and perhaps there will be bidders that will exceed
the amount of secured debt and there would be additional
proceeds for unsecured creditors(shareholders), I don’t have any objection to that!