Colorado Goldfields Inc. (fka CGFI)

[sanbrunobaby]

There are many credit-worthy companies with sound balance sheets and income statements that cant get credit these days. Generally mining companies can go to specialized banks that require bankable feasibilities studies usually. There is a reason why junior mining cmpanies typically rely on equity financing. Looking at this company's balance sheet and track record, what bank would lend to them pre-cash flow ? All I am saying is that prior to having positive cash flow this company needs additional equity or quasi-equity financing.

IMO no way CFO would take company private at this stage, as he needs equity financing to achieve business plan.

I am not stating company cant meet its challenges, but getting permit approved isnt the only issue.I agree CFO controlling voting power and having a second lien on the mill doesnt look good, but everyone know this buying these days.