A Professional Geologist / Engineer, whether an Employee or on Contract, will want to be assured that sufficient funds will be available to pay them for their services. If an Employee the commitment is $100K Plus annually. If on Contract the costs will be similar but that Individual will be providing Services to others.
An Individual joining the Board of Directors, as a non Management Member, will want to ensure that the Asset is viable and that the Management of the Company is well versed in the Operations of the Business. Non Management Board Members normally do not get paid per se but receive Stock Options, Expenses and an Honorarium for their involvement.
If Niostar is going to hire a Professional Manager, with experience in Mining as well as the Public Markets, it will cost well over $100K annually.
To prepare the various Geological Reports, both for the Regulatory Authorities and the actual Reports / Business Plan for Developing the Asset, will cost hundreds of thousands of Dollars.
Additional costs will be charged for Lawyers, Accountants and the various Listing costs / fees.
According to the Niostar Audited Financial Statements they owe several Millions of Dollars to various Contractors, Management Personnel (and / or related) as well as Sarissa Resources.
These are only the costs related to starting up a new Niostar listing.
Cash is required and I don t have a clear vision as to how this Management Group is going to achieve obtaining the money required.
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