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Tuesday, March 04, 2014 9:15:27 AM
Terms of the JVA are GMI [the Company’s subsidiary, Grupo Mineral Inca], will provide a cash infusion and equipment to the already producing project. The initial cash payment for the JV was loaned to the company by our CEO, Paul Howarth, via Renard Properties, LLC. Terms of the loan are interest only payments for the next two years and a balloon payment due at the expiration of the two 2 year term, or at profitability, which ever comes first.
Did nobody notice that?
We have a turn-key operation here, into an "already producing" Copper mine, by way of a CASH loan, not sales of shares! And the terms are interest payments only, for 2 full years. We're good to go for a long time!
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