PEOPLE READ THE 10-Q THE ANSWERS ARE THERE!!
While it's fun to punch numbers into an Excel sheet and watch as your eyes glaze over with greed, unfortunately it is not that easy in the real world.
Quote from the last 10-Q (September):
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In May 2010, we initiated the process for expanding our drill permits and also are concluding the Environmental Impact permit, which will allow us to explore the entire area that comprises the Peru Property and allow for drilling of up to 428 additional holes.
Our current cash on hand is insufficient to complete any of the activities set forth in our planned exploration program. While we have commenced our planned exploration program, we must secure additional financing in the near future in order to implement a small-scale test mining operation and be able to sustain any drilling activity or we will be forced to cease our exploration and development program. Provided that we are able to secure additional financing, we anticipate that we will incur the following costs for the next twelve months...
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Here are the straight facts that I have been saying for the last month:
1) The company has no money to complete the EIA/EIS, much less even started it.
2) The company has not raised any money since this 10-Q.
3) The completion of the EIA/EIS and submission process takes a minimum of a year to get approval.
3) UNTIL THIS IS APPROVED, THE COMPANY CANNOT GO INTO PRODUCTION.
That said, how will the company be in production in Q1 of 2011?
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