Replies to post #60361 on Colorado Goldfields Inc. (fka CGFI)

[p1928]

Sanbruno, there seem to be no informed answers to your penetrating and business savvy questions.

The mining properties in question have been inactive since 1942 and 1965 respectively. What will be the CAPEX to reactivate these; and permitting, safety/OSHA regulations and training for reactivating same; no answer.

What are the companies proven ore reserves? No answer; not even in the 10K and 10Q's. The CAPEX and operating costs to extract the undefined resources is also unknown. IMO, if there were proven reserves per SEC regulations CGFI would trumpet these on the 10K and thus be in a better position for conventional finance and a higher PPS.

As you say, not to be critical but one good answer would add much confidence.

[ficose]

I don't remember commenting on ore reserves.

Much of the info you need is public record. The company has PR'd, had newspaper articles where the company has been quoted about this years plan and there are thousands of pages of record on the drms site at http://mining.state.co.us/ under permit number M1984049. (That's just the primer - lots of report numbers involved with this thing.)

The HR issue seems to be important to you. Finding miners in Colorado shouldn't be any harder than finding longshoremen in San Francisco, Boston, or Seattle. It's not important to me that Guyer has mining experience; most CFO's spent their early years in college, and crunching numbers after. 20 years in a ditch isn't a prerequisite for CFO. Are the admin requirements for mining all that different than any other company?

Hey, I'm not trying to sell you anything. I spent about 8% of my investment DDing this thing for myself. (Glad I did, but next time will shoot for no more than 3%.) I really don't care if anyone invests. It's a risk; a big one, but not for the lack of info. If anything there is too much info. It's a complex play and trying to answer some questions is like explaining ballistics calculations to a business major. At the end of the day we just have a company smack dab in the middle of a mining culture that doesn't mine anymore, but would like to. Is there metal in the ground in San Juan County? Can you build a sandcastle on the beach?

If you're looking for fact on a free message board - you get what you pay for. You can find a lot of good DD here in the way of links to use as a roadmap, and you can also find some that would cold cock their own Grandmothers, lol. The info here is better than a stock play IRP site, but not as good as if you were dating Guyer's Daughter. (Don't think we haven't thought about it! Who was that young guy posting from a few years ago I suggested this to? Seems like the admins shut that thread down quick, lmao.)

GLTY