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thistime

03/05/09 1:02 PM

#11038 RE: runwitheggsin1basket #11034

IMO,not an oz. will be mined if Winfield stays in control of ownership and funding. Company will need a significant amount of capital to start mining ,as well as operating funds(line of credit).All assets of gspg currently secure Winfields loans to company. No lender will put a dime into this unless Winfield's loans are taken out ,so that the assets can be used as security for legitimate capital and operating loans. IMO,this will be a key issue going forward. IF Winfield can and continues to provide the needed financing,you can be sure that ,based on past expierence,the terms will be ridiculously favorable to him . Making a profit with such terms is highly questionable IMO.