The Enterprising Investor

[TRAPPER JIM]

PCFG NEWS THEY SHOULD HAVE MONEY TO FUND OPERATIONS LOOKY HERE..................................................................Black Fire Minerals has entered into an option agreement with Pacific Gold
Corporation to acquire 100% of the advanced Pilot Mountain Tungsten - Copper
Project located 250km southeast of the city of Reno in Nevada, USA. http://bfe.irmau.com/IRM/Company/ShowPage.aspx?CPID=1145&EID=18030297&PageName=Acquisition%20Of%20Pilot%20Mountain%20Tungsten-Copper%20Project Under the terms of the agreement with PCFG, Black Fire will pay an initial US$50,000 in cash for a
100 day exclusive due diligence period and then may exercise its right to acquire a 24 month option
to purchase for a further cash payment of US$450,000. At any time before the end of the option
period, the Company may acquire 100% of the project for further cash payments spread over a
further two year period totalling US$1.5m. A further and final cash payment of US$1m will be made
upon the commencement of commercial mining. The project is also subject to a royalty agreement
with a third party totalling 2% of the gross revenue of any mining operation. .................................................................Here is a peek at financials for Black Fire ..........pg 49 on the report under section 12 (b) CASH AND CASH EQUIVALENTS it shows they have 545,322 Cash at bank and 4,088,282 in Term Deposits
(i) Cash at bank earns interest at floating rates based on daily bank deposit rates. The cash at bank is bearing
floating interest rates between 3.00% and 6.00% (2009: between 2.50% and 3.00%).
(ii) This includes term deposits with a period to maturity of longer than 3 months, however for an insignificant fee
the group is able to break these term deposits, therefore they have been classified as cash equivalents. http://www.blackfireminerals.com.au/IRM/Company/ShowPage.aspx?CPID=1114&EID=24586542