it's a wait and see thing, has been for the last two years but at each corner there has been progress, some are happy with it and some are not, but to state they are making NO Progress would be in correct.
Doug is over there now, an extended trip so I would like to think he will be there for the start of the black sands processing, I shall wait and see.
Other deals were mentioned to be up for contract signing so lets hope this too will be part of the report.
Dilution for the past year is dwon from the year previous, thats a fact, it is also fact it has continued which is disapointing for sure but each time it has been reported and at the very least obvious what the money was used for, expansion and equipment purchases along with payroll for the local work force.
GLTA Go SGCP
April Field Report
MINING
During the period of late March to present Sierra Gold produced 104 oz. of gold from all sources despite dredge downtime due to mechanical issues and numerous fuel shortages. The company continues to stockpile black sands from all operations for future processing. This processing is expected to commence in late June 2012. The process employs advanced recovery technologies including that of nano gold recovery and has the capability of operating throughout the rainy season.
In keeping with the selective concession expansion goals, a further 4 properties were acquired in April. The aim of these acquisitions is to be able to continue some operations during the rainy season.
Also during this period the company paid its annual SEC listing fee as well as renewing all its mining and dredging licenses.
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