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Re: wshaw14 post# 1848

Friday, 01/24/2014 8:59:14 AM

Friday, January 24, 2014 8:59:14 AM

Post# of 1893
the number used for balance on the note is what was stated in their report as of quarter end
the report said $14M additional (i.e. increase) tax burden
I used 110,000 as it is what was used to get the $974 of the report

As I read it, after covering the increased obligations for purchase of the 20% of Cerro their %0% usable share of free cash flow, in absence of contribution from Black Fox or increase in gold price, will be stressed thin through 2015 and likely require taking on debt to continue expansion.

IMO Black/Grey Fox would very possibly advance more rapidly under BRD and current management if the current metals price environment continues or worsens.
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