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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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To: TrueScouse who wrote (65458)5/28/2009 4:45:10 PM
From: bull_dozer  Read Replies (1) of 78416
 
Thanks. I remember reading about their JV with Newmont but not sure why stock is not trading higher like so many other juniors. Is there anything you are aware of apart from it trades on BB?

From their recent 10Q:

sec.gov

"As shown in the accompanying financial statements, the Company has minimal revenue and incurred an accumulated deficit of $6,186,806 through March 31, 2009. These factors raise substantial doubt about the Company’s ability to continue as a going concern. Management intends to seek additional capital from new equity securities offerings and joint venture agreements that will provide funds needed to increase liquidity, fund internal growth and fully implement its business plan.

The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event the Company cannot continue in existence.

Should the Company be unable to raise capital through future private placements and/or joint venture agreements or achieve significant revenues from its operations, its business, and, as a result, its financial position, results of operations and cash flow will likely be materially adversely impacted. We expect to receive cash flow from the gold sales and by providing drilling services to Newmont on our joint venture."
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