First time I have ever heard a reclamation bond is to be returned before site is reclaimed. If that is the case wouldnt it be recorded as a current asset ?
I agree they will probably re-negotiate whatever they can, though I would expect some cash or shares would be requested.My understanding there is a mill payment also due in June.
My basic point is that I do not understand how they can (a) perform improvements required to remove conditions to permit (b) make quarterly filings required of a public company (c) gear up to make a mill operational which means turning over the mill to work out any bugs, purchase materials necessary to run mill (d) be prepared for safety inspections (e) have working capital for salaries etc; without some cash balance.
I still believe that if they needed $400,000 to cover operating cash flow last year, they need at least the same before they would start collecting profits this year. If stock is at $.015, take off 50% and $400,000 in convertible financing, that is another 53 million shares. Just my opinion as I do not know what it will take to get mill operational, but I do know it will require some cash. And if they add another 50 to 80 million shares but reach profitability, obviously stock should go up absent some very inept IR work.
