This all sounds very positive, and I do hope they progress, but makes several assumptions that are a bit difficult to understand.
A NI43-101 report does not create reserves, this needs a feasibility study according to SME or CIMM standards- and as we have seen on today's press release, they are preparing technical reports using NI43-101 standards, not actual NI43-101 reports.Are you saying this company will have reportable reserves before September ?
It may very well be that permit can be granted when they submit paperwork but the conditions require certain actions to be done such as constructing the necessary facilities - i.e. and undoubtedly these need to be designed, constructed and then inspected.
I admit I do not understand company's difficulty releasing information they have- i.e. if they just did a report internally that showed the economics of the Silver Wing, they have already established a preliminary number. In any case the release today was helpful, i.e. we know now that the Silver Wing is a base metals mine primarily, and secondly a gold/silver mine.
This idea of asset-based financing I do find of great interest , but even with such financing certainly lender will require a cash flow forecast to show company could support loan payments. In any case they brought in $400,000 in financing last year without permit so one could assume they can rely on more convertibles.
Restrictions on shares to consultants etc normally 6 months.
Your sequence of events seems very straightforward. Do you believe they will be processing ore in 6 months ?
Don't get me wrong I am not bashing stock, just doesn't seem too transparent.
AI
