Our balance sheet as of April 30, 2010, reflects total assets of $4,116,601. We had cash in the amount of $24,663 and a working capital deficit in the amount of $304,033 as of April 30, 2010. We do not have sufficient working capital to enable us to carry out our stated plan of operation for the next twelve months.
On May 28, 2010, there was an incident at the Company’s Discovery Day mining project, which resulted in the death of a mine worker. The Mine Safety and Health Administration (MSHA) was immediately notified and as of the date of the filing of this Report, was conducting an investigation as to the cause of the incident. All underground mining activities at the property have been suspended pending completion of the investigation and the Company is in the process of initiating its own investigation of the incident.
Was thinking of investing, after reading I think I'll pass. Good luck to you all though.
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