At the Chloride town hall meeting on June 6, Rod Martin, CEO of SIRG told the BLM agents, town officials and local residents,
SIRG expects to re-open the old Emerald Isle mine and "expects" to be in production in Jan/Feb 2013.
Definition of EXPECT
transitive verb confidently believe something: to believe with confidence, or think it likely, that an event will happen in the future
transitive verb wait for anticipated thing: to wait for, or look forward to, something that is believed to be going to happen
Further equity funding was necessary to hire CDM Smith to process the APP Permit transfer, the last hurdle to getting funds to proceed with the LOI to purchase another 10% of the mine and the additional 90 acres of private land south of the claim.
Again - guess some think Rod just just have given up rather than use equity funding for the remaining expenses. This funding is not toxic unless converted and not due until 2013.
With the APP permit transfer, SIRG will move forward with building the new heap leach pad/pond with a contract already awarded to Desert Construction of Kingmnan, AZ. That will take about 30 days and the Chloride will be ready to begin loading the heap leach pad, thus "production".
