Glen,
See Post #1573 in regards to Cash Flow potential from Pemon. Development of Pemon expected to be from current diamond/gold production. Total production potential not known at this point. As more production and sales information is gathered, more detailed estimates can be obtained.
Expenditures for Ojolali 1997 are CDN$650,000. Cash flow from Ojolali 1997 is likely to be zero in 1997.
Will CLL be profitable in 1997?
There are many variables that are not known, such as, when and/or will CLL actually reach 1000 carats/week production from Pemon? Will the Pemon continue to yield economic numbers? Environment concerns? Will the Ojolali prove to be an economic deposit? Indonesian and Venezuelan governments? Will CLL become involved in other projects?
All of these unknowns add risks to shareholders and effect the share price. The only way to properly answer these questions is with more information over time. Continued production/exploration at Pemon and drilling a Ojolali will provide the information needed.
The balance sheet for the nine Months ended Sept 30 96 shows Assets and Liabilities of $2,515,971 up from $696,677 in 1995, an increase of $1,819,304. Coleville showed a loss of $135,335 in the first nine months of 1996 compared to a loss of $467,437 in 1995, an improvement of 332,102. $1,605,226 was raise by way of new equity during the period. Total cash at the end of the period was $20,945.
The first significant balance sheets will be the Q1,2,3 of 1997. These will have the benefit of ANZ JV (Q1) and Pemon cash flow (Q1,2,3).
I can fax copies of the CLL financials for the nine months ended Sept 30, 1996, to anyone who cares to check out the whole document (three pages)
Gerry Belanger.
Silicon Capital Corp. |
