Those who listened to the CC last night, i called in under the alias "Commander" i asked a few direct questions that assessed the quality and answers of this CEO.
Those who listened may remember the questions I asked, all of which were hot topic concerns on IHub and just good to know as an investor.
The gold he sold was from Congress Mine Tailings, he did indeed give the refinery 50ozs, however when smelted and gone through the process it ended up as 39.3 oz of pure gold. Which answeres gitreals question of "where did this gold come from and why was it so pure"
Next I asked about when Congress mine will be back up, he said hes waiting for them to come to the Mine and meet with him, hes optimistic it will be back in production by November. "At Production" means not buying any more equipment and they will be able to go through 200tons/day.
He said he has about 25 weeks worth of tailings to process at the Congress Mine in his CURRENT SPOT. Therefore at a ratio of 1oz per 10tons but ten smelter bring down 20% to purity we have ~$2.1million dollars in 25 weeks of processing.
Which is ~7 months from now where he also said he would like to have all debt paid for and lower the A/S from 10.1billion to 7.6billion. He said "I will lower the A/S 2.5 billion at a time." This is where i jumped in as a knowledgeable trader and made sure he made i clear to the rest of the listeners what he meant. I asked well if the outsanding shares are at 7.1billion now, you wont be able to just drop down the A/S after you drop it down to 7.6 billion without first dropping down the O/S and Float somehow, will that be in the form of Buybacks or an R/S." He said and enphasized it multiple times that he will not do an R/S and that everything will be done through share buybacks. Which I believe if we start production again in November, plus 7 months, we get 1000 tons per weeks, makes it to May, we will have debt bought out completely.
Again he also emphasized how this week he is either buying the float or buying the 1billion in shares of debt before december. So i hope he buys the debt first, i told him that would be the better idea and he agreed, but he needs approval from his legal counsel to get the ok.
IMO this is the perfect time to load the boat. In a couple months time this will be at least .0015+
Goodluck.
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