Unanswered questions:
I posted several questions following the release in post 1269. I have reposted them below:
The March 12 release said that Starpoint had until June 5 to make the remainder of the payment for the Yetwene concession. Why have they already announced that they have lost it? Also, having paid $1,431,000 of $1.5 million owed, shouldn't they owe $69,000 USD - not $600,000 CDN as stated in the news release? (unless the Canadian dollar really dropped recently, $69,000 USD = $96,000 CDN)
"Once the Company makes all payments by June 5 1997, the Company will have earned its vested interest in the Yetwene and Riverstone Concessions.
The Company intends to order a Dense Media Separation plant by March 30, subject to having available funds on hand. The plant will facilitate to bring the Yetwene Concession into full scale production."
This does not mention loss of the concession if they do not bring a DMS machine onto the site.
Also, in a January 29 release they said they had entered into an agreement to purchase a diamond recovery dredge for US$398,344. This was to be operational by March. What happened to this?
Furthermore, now that they do not have the Yetwene concession, what happens to the $1,431,000 that they have already put up?
Please fill me in on what I am missing.
Thanks |
