Replies to post #61110 on Colorado Goldfields Inc. (fka CGFI)

[lesgetrich]

I was making the point that the company may have sold shares to pay off the convertible loans. They would need to raise $84,000 to do that and that's approximately the value of shares traded last Friday. There may not be a formal line of credit but the company has stated before that they anticipated that they could go back to the same funding sources to carry them through to the mill opening.

I'm not sure about the reporting requirements for companies selling shares but they may be different for development stage companies. They would at least have to report new shares on the Q's and K's which they have been doing. They have stated in their reports that their reliance on selling shares to fund operations is one of the factors that may result in dilution.

Back in December (post #58965) I stated that there were about 83,000,000 commited shares (add anther possible 10 mllion in convertibles). The latest outstanding share count is about 73,000,000. Unless there's another major mine purchase or unforseen expense, I think we can get to the mill opening with about 100,000,000 shares. But even if we have to go to 150 million I think we would still be in very good shape.