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lmcat

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lmcat

Re: drlyn 1 post# 3943

Friday, 02/24/2012 5:26:11 PM

Friday, February 24, 2012 5:26:11 PM

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The CEO is not dumping. He was elected the new CEO after the sudden death of our 45 year old CEO the end of Aug. (I hope GEAR has "key man" insurance on Dale since he is the do-it-all guy!)
The convertible notes were used to buy their share of the copper mine, not wasted on exploring for ore, administrative and consulting fees!
The BOD voted down the funding and some notes got converted along with shares held by the previous shell owner.

The economy has made borrowing funds close to impossible. Our CEO is pursuing a pre-sale of ore to fund the $5 - $7M needed to return the mine to production. That kind of funding is more difficult to obtain.

LOAD THE BOAT

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