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Neither WSRA nor GDSM has PR'd that a

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lmcat   Friday, 10/05/12 03:53:51 PM
Re: $b_rich$ post# 4425
Post # of 14539 
Neither WSRA nor GDSM has PR'd that a JV agreement to fund and develop the Azurite mine has been signed!

It is my opinion that there will be no JV for the Azurite unless or until GDSM can guarantee funding of $1,000,000.

Mr. Chaffee has been in 3 JVs with GDSM and all have been problematic with 2 of them going into default. He is not anxious to get into another one without guarantees!

Further there is the $100,000 due to WSRA on Oct 20th and without that payment the GC and GS JV goes into default.

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