Recent 10q - quite interesting, what a high risk-high reward company if they can pull this off.
Looking at liquidity section appears they need almost $450k for the mill payment, another $340,000 payment, unknown for mill activation, corporate overhead. At $2 million at $.05 that would be 40 million additional shares excluding shares from convertibles, so I think my prior rough estimate of 100 million outstanding shares too low,probably will be at least 150 million.That doesnt even include the other property payments.
It would be quite interesting after reading the 10q report if management holding to an August start date. (Doesnt matter to me, I would prefer a better supported start date in 2014 but a realistic timetable and capital estimates.)
Mill is main selling point, so seems CFO will pull out all the stops to keep the mill, so should be an interesting 5 months !!
