Wednesday, March 21, 2012 8:48:02 PM
Joint Venture Projects As previously announced, the Company had entered into 2 joint venture mining properties with Western Sierra Mining. To date, the Company has experienced difficulty in securing enough shareholder-friendly capital to get the mines into production. Most opportunities for funding involved reverse splits, substantial dilution and “floorless” convertible debentures. Although the capital needed would be in place, it would be counter-productive to the current shareholder base. The Company has and will continue to avoid these types of financing sources. The Company continues to work with its joint venture partners to bring one or more projects into production and has narrowed its focus to the Gold Star Mine, which is currently owned by Western Sierra Mining, the company's mining partner.
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