Here is what I know direct from Orly.
We just completed the Geological Report on the "Lebre Plateau Property" (the name we gave to the Northern half of the Niaouleni Concession that Detec optioned from Mink). Detec needs to submit the said report to the Vancouver Stock Exchange so that, upon approval, Detec can proceed with its financing to fund the project.
In answer to your question regarding getting Mink back to trade, the following, in a capsule, is what I have accomplished or still have to accomplish:
Option part of the Niaouleni Property (accomplished so far: done with Detec);
Take Ashton out of the picture in the Kenieba Diamond Project (accomplished so far - Ashton has given me a first draft agreement which I now have to finalize in consultation with Mink's lawyer; sign the same, then give it to Ashton);
Joint venture the Kenieba Diamond Project (accomplished so far - presently negotiating with a French company and awaiting for the return of the decision maker from his annual vacation. One of the conditions I am asking from the French company is for it to pay Mink a $750,000 entry fee. So far the partners of the decision maker with whom I have been negotiating have not expressed any objections and, in fact, are very keen on the proposal);
When the both the Nisouleni and Kenieba Project are both underway, then we can go to the VSE and say:
Detec is spending money in our Niaouleni Gold project;
The French Company (or whoever) is spending money in our Kenieba Project
We have paid all our debts (from the $750,000 entry fee)
We have some money left behind for working capital (also from the $750,000 entry fee)
Please re-instate our Company for trading.
I sincerely believe that the forgoing is achievable. The only difficulty is that I am the only one doing all of the above, as well as the items described below:
I successfully negotiated a $1.5 million financing for Detec on the condition that the money raised will be used for Mink's gold project.
The financing I negotiated is $0.50 per unit, one unit being one share plus one share purchase warrant exercisable within a period of six months at $0.55 per share. In effect, I actually negotiated a $3.5 million financing.
I also bought and paid for 200,000 Detec shares from two principals
I obtained for Detec a diamond project (a 12,000 sq km area that surrounds Mink's remaining 9,000 sq km Kenieba Property - after relinquishing the same to the Mali government in compliance with the Mining Code).
With all of the above, the agreement I have with Detec's principals is that I will be appointed as a director during the special shareholder's meeting and, thereafter take over the presidency.
I have one last hurdle to overcome to complete the Detec deal and would want to ask you if you are willing to assist. Someone agreed earlier to buy an additional 200,000 shares from the two Detec principals at $0.20 per share but backed out because he could not come up with the CDN $40,000. I already paid my own $40,000 and cannot spare anymore of my private funds because I am still supporting Mink.
Are you interested or do you have anybody you can recommend? Actually, whoever buys those shares will effectively double his investment because the financing is at $0.50 (by Canaccord of Vancouver; Yorkton and Williams de Broe - both of London). If I cannot find somebody within the next deal or two the Detec deal will collapse and this is being said bluntly.
|
