Good afternoon, a very productive and interesting discussion. As you know from my posts I am not a basher of the stock, but remain curious.
1.While you may be entirely correct that the permit requires simply plans to address the conditions surely there will be expenditure involved in the various environmental facilities required to be up to speed. Surely company needs some working capital to get ready for production in six months. How can a company with less than $5,000 in the bank be gearing up for custom milling in six months and also address other cash needs in their filings but not those related to production ?
(And by the way, do they need hoisting facilities at their mines)
2. You have quoted over $120 million value, but as I explained taking the amount of material in the ground ( which even the company doesnt provide any detail as to the category of resource)without calculation of processing and extraction costs, recoveries from milling, etc etc,provides a misleading impression. If you look at current metal prices times the totals they quoted,less their own projected mining cost of 3 years ago, how could that possible reach that figure ? That is precise reason normally regulators frown on such assertions.Am I missing something here ? It coudl be a very good copper mine, but company-in my opinion- need sto build credibility.
3. Most junior mining companies have had a terrible time getting funding the last two yars, so no surprise there. Idea of traditional financing sems a stretch for any banker to entertain but who knows. My bigger concern is even to produce in 2014 and develop their own ore to mine, lot should be done this year- it would seem they should be bringing in another convertible now to keep progressing.
I would be pleased to see (a) another convertible financing now (b) a realistic revised time frame (c) rough idea of capex costs and estimates for recoveries etc. (d) announcement of of an outside scoping study etc.(e) terms of their "orders".
They bit the bulet and did a 5000 to 1 reverse, maybe they can step up to the plate and provide shareholders with basic information.
4.The "chill" you speak of at DTC normally doesnt have much to do with permits or merits of a particlar business according to a few brokers and market makers I have spoken too. Where did this information come from ?
I admire your optimism, and notwithstanding my questions it would be great if CFO could pull this off.
AI
