Cottonwood is effectively the supervising mine operator. They were not aware of iFinix, and said that the Mohave Mine Joint Venture general partner would know more and may call me tomorrow. The operations and revenue are best inferred from the 2010 NI 43-101 technical report. I was told that a minimum of 10 months after funding are required to begin operation, perhaps to allow for final permits and construction for saleable refined product.
The asset that iFinix acquired is probably the expected future value of participatory interest in the venture. Oakbridge may have been convinced that the value of their INIX shares next year should be no less than the 51% interest alone, and might be magnified in greater INIX share value of several cents by the enhancement of the business using the additional collateral available.
The arrangement appears to indicate some outside confidence in INIX management. We can best wait until the full strategy is made public, or eventually accomplished.
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