Replies to post #6464 on Sterling Group Ventures Inc. (fka SGGV)

[Refill]

The 10q did state that the existing permit was good thru Feb. 10, 2015 and that they(Hongyu) applied for the permit on Jan. 27th, 2015.
It looks like they got local approval from “Huaihua city of Hunan Province” but they are still waiting on renewal of the official mining permit by “Bureau of Land Resources of Hunan Province”.
They went on to say there’s no word on the renewal yet but they don’t expect a problem.
I hope that’s the case but unless they P.R. it we won’t find out for sure until the August 10k.

On October 18, 2010, Sterling signed two agreements (the "Agreements") with Chenxi County Hongyu Mining Co. Ltd. ("Hongyu") and its shareholders ("Hongyu Shareholders") regarding the Gaoping phosphate mine (the "GP Property") located in Tanjiachang village, Chenxi County, Hunan Province, China and other phosphate resources in Hunan Province. Hongyu holds a business license and a mining permit in the GP Property which is in effect until November 10, 2014 and covers 42.5 hectares. The mining permit was temporarily extended to February 10, 2015. On January 27, 2015, Hongyu has obtained the approval from Huaihua city of Hunan Province. On January 30, 2015, Hongyu submitted its renewal application to the Bureau of Land Resources of Hunan Province and is currently waiting for final approval however the Company does not expect any problem with the renewal.

[Mike2112]

As of February 28, 2015, the Company had total current assets of $1,494,350 and total current liabilities of $419,983. As of February 28, 2015, the Company had cash totaling $1,465,929, and a working capital surplus of $1,074,367.