Thanks for that but my point all along here has been that what is being claimed as fact are not actually fact but instead hopes. Additionally, the actual facts that are being presented are dismissed as "innuenduo and half truths". Even SIRG knows the difference and states it in every filing. Here are some important statements to concider...
Our estimate of ore reserves at the Chloride Copper Mine is based on total copper assays rather than soluble copper assays. A reserve estimate based on total copper is an indirect measurement of copper recovery through leaching. Accordingly, we may have over-estimated the amount of recoverable copper at the Chloride Copper Mine.
We have not had any significant revenues since our inception and there is no assurance that we will be able to achieve the financing necessary to enable us to precede with our exploration activities.
Our financial condition raises substantial doubt about our ability to continue as a going concern. We have an accumulated deficit of $10,242,246 as of December 31, 2011, and our auditor has issued a going concern opinion. This means that there is substantial doubt whether we can continue as an ongoing business. We will need substantial financing to conduct our planned exploration activities; if we fail to obtain sufficient financing, we will be unable to pursue our business plan or our business operations will have to be curtailed or terminated, in which case you will lose part or all of your investment in our common stock.
There can be no assurance that all necessary approvals and permits will be obtained and, if obtained, that the costs involved will not exceed those that we previously estimated or the costs and delays associated with regulatory compliance could become such that we will be unable to proceed with our development activities or operations.
There can be no assurance that the Company will receive material value for the tailings
.
So, instead of "fact" it is...
if they get all permit approvals if they find financing if they make ALL of their payments to ALL of their note holders on time if they don't default and lose the mine if there is copper in the ground in the amounts claimed if the tailings have material value if they can successfully run the mine
...then they MIGHT turn a profit.
Even if all of the "ifs" come to fruition, that still doesn't address the matter of when. They aren't anticipating the FONSI cert. issuance until April 15, 2013 or on October 15, 2013 (if filing the mine deed of trust to Grand View extends it). Plus, it will take ~ $2 million and 3-6 months just to get the mine operational again.
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