Progressive Stocks

[stills999]

TSX:AMY - Michael, I'll take a shot at answering your Q's.

How did they come upon all this resource that they are supposed to be able to extract?

Three points from the investor presentation are relevant:

1: China produces 98.4% of EMM and South Africa 1.6%.

2: "Artillery Peak Arizona - American Manganese controls the entire manganese district which comprises 112 patented and 254 unpatented lode mining claims. These mining claims contain several deposits and stockpiles that were worked sporadically from 1928 to 1955. The United States Bureau of Mines has described the Artillery Peak Manganese Resource as the largest low grade deposit in the south western United States. The Artillery Manganese project covers an area of approximately 12 sq. miles."

3. "Process to Produce from Low-Grade Ores - The robust energy efficient patent pending process will produce high purity electrolytic manganese (greater than 90% extraction) while minimizing water and energy use, and the potential environmental foot print. The conceptual process flow sheet is based on a unique application of commercially available process equipment."

Here is the press-release of the purchase: http://finance.yahoo.com/news/American-Manganese-Purchases-iw-2442693053.html?x=0&.v=1

My Take: With virtually all production from China, it seems that no one in the US has been paying attention to this land. Perhaps more importantly -- as above -- AMY has patents on a new process to extract from low-grade ores so perhaps it is this innovation that allowed AMY to get the land for a good price as there would be no other bidders to push the price up.

How are they getting the funds to proceed?

Equity financing was used for getting the land. I'm not sure how the remaining funds were raised initiatlly, but the investor presentation says AMY are well-capitalized as $9M cash. I don't know the share count to get the cash-per-share which would be interesting.

Here is the link to the investor presentation and other details:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=61915847