What are you talking about - this was posted only yesterday
By Electronic Lodgement 10th May 2011Company Announcements Office ASX Limited 2 The Esplanade Perth WA 6000 PILOT MOUNTAIN TUNGSTEN PROJECT UPDATE Further to the announcement regarding the acquisition of the Pilot Mountain Tungsten Project in Nevada on 14th February 2011, the Board of Black Fire Minerals provides the following update. Technical due diligence activities are nearly complete and the Company continues to be highly encouraged by the potential of the project. First stage drill program planning for the Desert Scheelite Prospect has been completed and permitting has commenced. Legal due diligence is incomplete with the project vendor, Pilot Mountain Resources Inc (a wholly owned subsidiary of Pacific Gold Corporation) informing the Company that they are now unlikely to be able to deliver unencumbered title to the central 45 (of a total of 154) Mining Claims by the end of the current agreed due diligence period. Pilot Mountain Resources have advised that they are currently taking action to deliver unencumbered title to these 45 claims and are confident of the outcome. The Black Fire Board has unanimously decided that despite the potential delay, Pilot Mountain represents a significant advanced project opportunity to create shareholder value accretion from the very substantial tungsten price increases over the last few years and as a result has agreed to an extension to the due diligence period to allow resolution of title. Black Fire intends to work with Pacific Gold Corp to resolve the title issues as quickly as possible and upon a positive outcome intends to commence an aggressive drilling program with the aim of bringing the historically defined mineralisation into a maiden JORC resource.SIMON RIGBY Executive Director Black Fire Minerals Ltd
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