Hi Lorne,
''This joint venture agreement with St Andrew marks the first step in a transition from a successful exploration company to a
gold producer with a positive cash flow in the near future'', says Sethu Raman.
Yeah, in the near future! A 4 yr. agreement and total pre-production expenditure expected - $1 million dollars; $500,000 in the first 12 months.
I guess that leaves up to 3 years to spend that other $500,000? And how much has Holmer already spent on the initial drill programs over what period? Unless Holmer has a sugar daddy in hand, we won't have any funds to even continue trading as a public company, so it'll be moot - "in the near future", that is.
Still, old Sethu really does have his own sense of space and time, and, I guess, sense of humour. I do like that expression - "in the near future". As in the near future, hunger will be a thing of the past and, in the near future, everyone in the world will get along. Or, in the near future, the Cuban properties will be brought into production. It's got a certain 'je ne sais quoi' about it, but I do like it.
However, given the trading today in HGM, it appears that the rest of the market doesn't share Sethu's enthusiasm for the 'near future'. Reality has set in after one whole day!
Brian |
