Did you happen to read the last 10Q they put out? If so, this would have told you all you need to know.
Plan of Operation
We are a mineral exploration company. Our plan of operation is to carry out exploration work on our Wyoming Iron Complex in order to ascertain whether it possesses commercially exploitable quantities of iron ore and other metals. We intend to primarily explore for iron ore but if we discover that our mineral property holds potential for other minerals that our management determines are worth exploring further, then we intend to explore for those other minerals. We will not be able to determine whether or not the property contains a commercially exploitable mineral deposit, or reserve, until appropriate exploratory work is done and an economic evaluation based on that work indicates economic viability.
According to our plan of operation, we estimate our cash needs for the next 12-36 months to be as follows:
Expense 2012 2013 2014
Wyoming
Property Purchase $ 210,000 $ 125,000 $ 125,000
Exploration 175,000 1,600,000 300,000
Feasibility/Engineering 0 300,000 7,300,000
Permitting 0 25,000 700,000
Project G & A 25,000 200,000 100,000
Total Wyoming $ 410,000 $ 2,250,000 $ 8,525,000
Corporate Over Heads 820,000 1,100,000 1,125,000
Acquisition/ Exploration 300,000 1,500,000 600,000
Total Corporate Budget $ 1,530,000 $ 4,850,000 $ 10,250,000
We have no ongoing revenues, have achieved losses since inception, have been issued a going concern opinion by our auditors and rely upon the sale of our securities to fund operations. Accordingly, we will be dependent on future additional financing in order to fund our anticipated cash needs, and to seek other business opportunities in the mining industry or new business opportunities. There are no assurances that we will be able to complete such future additional financings or seek other business opportunities.
We are considered an exploration stage company as we are involved in the examination and investigation of the mineral property that we believe may contain valuable minerals, for the purpose of discovering the presence of ore, if any, and its extent. Since we are an exploration stage company, there is no assurance that a commercially viable mineral deposit exists on our property, and a great deal of further exploration will be required before a final evaluation as to the economic and legal feasibility for our exploration is determined. We have no known reserves of any type of mineral. To date, we have not discovered an economically viable mineral deposit on the mineral property, and there is no assurance that we will discover one.
News 
Market Data 
Discover 
AI
