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lmcat

07/26/12 4:31 PM

#14995 RE: Citrati #14980

Not to worry Rod has everything under control at SIRG except getting the government agents to process the paperwork for the final permit approvals.

Once the permits are approved, the funding details will be released. Since permits are taking so long the funding companies are putting tighter restrictions on permits. (Another company applied for a US Forest permit in 2007 and is still waiting along with a Corps of Engineers 404 permit. They are also dealing with 2 lawsuits.)

A CA mining claim company failed to get permits and eventually defaulted. There are no banks except for the Bank of Nova Scotia and a few others that are lending to mining development companies like SIRG.

SIRG will do a copper cathode sale and off-take agreement. Unless a person is familiar with the mining industry they probably won't know what that is. Watch SIRG and find out!

My guess is that the accounting/financial dept that Rod inherited when he took over is/was week, resulting in the DTCC chill. Both the CFO and accounting firm responsible for that dept at that time have been replaced. Clearly Rod insists on top performance or they are gone!