Replies to post #62622 on Colorado Goldfields Inc. (fka CGFI)

[flicker]

My guess is that they sold a convertable note for an amount in that neighborhood, or for what ever is needed. If so, we will see it accounted for in their report. I'm convinced the obstacle to making progress on the permit has been financing but I don't know how big that obstacle is.The permit was approved with 8 out of 9 being ready to go. The statement made it sound simple enough, but we don't have a statement of cost on number 9.

During the quarter ended November 30, 2012, we began very specific analysis to satisfy conditions that were imposed on full permit approval by the DRMS. The core of the permit consists of nine Environmental Protection Faculties (“EPFs”), which are: 1) Mill Building, 2) Ore Stockpile Area, 3) Laboratory Facility, 4) Leach Plant Building, 5) Flood Protection Dike, 6) Plant Waste Water Disposal, 7) Groundwater intercept Drain, 8) Upland Stormwater Intercept Ditch, 9) Mill Tailings Repository.

The conditions specified by the DRMS regard the ninth EPF, the Mill Tailings Repository and simply request additional geotechnical substrate stability analysis, structure specific engineering designs for the cover of the repository, the repository’s reserve capacity, and the always on-going recalculation of financial warranty.

[flicker]

I know they didn't get the work done in the Fall, so it has to be done in the Spring, provided the financing is available.

Silverton, Colorado
Today Mar 15

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