Replies to post #10566 on Calissio Resources Group Inc (CRGP)

[ppcap]

well done, you beat me to it :-)

Most companies do not operate debt free. It's fundamentally stronger for a company to have cash on hand and leverage debt, than it is to have no debt and little or no cash on hand. The excerpt below gives a good indication how their cash is being used.

8. NOTES PAYABLE:
The Company acquired the Jovita Mine on May 22, 2013 for a total consideration of $6.1 million USD to be
paid to Minerales Consolidados S.A. de C.V. (MCSA) Under the terms of the Agreement, Calissio will acquire
100% ownership of the Jovita Mine for aggregate expenditures of USD $6.1 Million over the next 3 years.
Expenditures include a payment of USD $2.5 Million and 1 million shares of Calissio to MCSA, within 30
days. Additional payments of 1 million shares will also be issued to MCSA, in 12 months and 24 months.
16

CALSSIO RESOURCES GROUP, INC.
Notes to the Consolidated Financial Statements
(Presented in US dollars)
March 31, 2015

8. NOTES PAYABLE cont’d

Calissio will also be required to spend USD $3 million in exploration activities on the property over the next 36
months. These terms leave Calissio with a note payable to Minerales Consolidados in the amount of $3 million
USD for the next 36 months.
On August 21, 2013, the Company has acquired the San Pedro Copper Mine and Flotation Mill in Michoacán,
Mexico, from Minera Rio Cobre SA de CV. The San Pedro Mine, located in southwestern Michoacán, is a past
producer with a 20 ton-per-day (tpd) flotation mill currently on the property. The San Pedro acquisition is a
cash and shares purchase transaction totaling $3 million USD consisting of $2.5 million USD and $500,000
paid in stock by issuing 2 million common shares valued @ $0.25. These terms leave Calissio with a note
payable to Minera Rio Cobre SA de CV in the amount of $1.5 million USD for the next 36 months.