I had a few questions.....2 day turnaround.
1. WHAT is the purpose of the SB-2 for Crestview's shares (bringing us to 186,037,239 shares issued)?
WHY do they have to be registered? ARE THEY SELLING?
A: Crestview has a policy of holding shares in free-trading status, which is standard practice, and most investors feel the same way. The company has no indication that they are selling, and given the fairly low daily volumes right now, would suggest they are not.
2. WHY NOT APPROACH ACTION MINERALS and propose a JV?
WE have the mill, the miners, and MOST of the permits already.... this would APPEAR TO BE A perfect FIT FOR BOTH COMPANIES.
A: When Action can prove they have identified commercial deposits, possibly through a drill program, then perhaps we could explore some useful form of cooperation with them. Do they have reserves?
3. Does the company not need an additional Ball Mill at Ashdown to increase production? I understand that the current mill is capable of production UP TO 5 Lots of concentrates/60 SSs and we aren't there yet, BUT I also understand that USED ball mills are HARD to come by, NEW ones even harder. Have steps been taken to identify and procure mill(s) (for Ashdown AND MR) before there are none left? I understand there is a backlog of 2 years for companies in line for new mills.
A: That is the company’s understanding also, BUT before they can locate a ball mill, they need to determine the right size, and that keys to the reserve development. The ball mill, if expanded, needs to be right-sized, and that work is dependent on analysis the TSG is in the process of performing. They are continuing to focus on increasing the performance of the existing equipment. By the time they bump up against the limits of what it can do, they can have much of the design work done to expand it.
4. Action Minerals holds the mining claims to the north of Ashdown, WHO holds the mining claims to the South of Ashdown?
A: There are various claim groups heading south along the Pine Forest trend. Some may no longer be in effect.
5. I understand that a new tailings impoundment is under construction. Why was this necessary if you can reprocess the tailings in the ORIGINAL impoundment? I THOUGHT we could just process the tailings and prevent the impoundment from filling up?
A: Even when the company reprocesses tailings, the majority of the material returns to the pond, with only the molybdenite going into the bag.
WHAT will happen to the ORIGINAL impoundment and the tailings in it once it's FULL?
A: It will be dewatered, compacted, and sealed with a layer of dirt in accordance with strict guidelines.
6. Can you shed some light on the employee incentives accorded to the company officers and employees and whether or not we have triggered any of the clauses that have resulted in the issuing of shares to said individuals?
A: There are vesting schedules published through our financials for each officer. Those define the timing of that vesting, and is different for each person. The vesting is ongoing, and triggered by the passage of time.
7. WHY are there NO insider buys? THIS IS A HUGE QUESTION THAT INVESTMENT BOARD BASHERS ASK OVER AND OVER. Is this not a great way for the company to DEMONSTRATE CONFIDENCE in it's self? Can we (THE COMPANY) not initiate a small scale share buy back program?
OBVIOUSLY shareholders can FORGET ABOUT THE POSSIBILITY OF DIVIDENDS.
The old guard need a vote of confidence coming OUR way........ WE were there
for the company when THEY need US.
A: Our share structure is an important topic, and we are looking at that right now. You mention the old guard, whose support and patience has been inspirational. I think that is one area we must expand on, by bringing new buying into the company in the form of institutions. That may involve our trading platform and making ourselves attractive to Canadians. So there are many areas in which to work regarding he overall stock picture, and we are looking at it all
MANY of these folks have pretty much given up........................
A: Except for you and me...
8. EXPLAIN what the dry stack tails disposal method is; Are we are converting the leach pad to a tailings impoundment?
A: Yes, that is the idea. The leach pad was proven non-economic when operated as a gold recovery system. That is because of the nature of the gold and its tendency to get locked into the mother rock and not leach effectively. But there is believed to be a lot of gold in the pad that should be recoverable by traditional methods, namely grinding and then processing. So the TSG is focused on trying to convert the pad into a feed supply, running it through a mill, recovering the gold, and returning the tails to the pad as dry stack, which is a fancy word for piling it up and sealing it off on top of a liner.
9.WHAT does that mean to us?
A: It means that if the TSG is successful at the redesign and reclassification and permitting of the pad, it could bring tens of thousands of ounces of gold into our reserves, provide a source for mill feed once a mill is built, and solve the remediation issues with the existing pad. It appears to be a winning strategy which we are working to implement, if possible.
10. WHAT equipment do we need to process the heap leach that we don't already have?
A: If we abandon the leaching process, we will need to permit and construct a grinding mill, similar in concept to Ashdown's, but probably of larger capacity.
11. ISN'T there agglomerated concrete in the heap leach?
A: Very little. The agglomerator was never effectively used at MR, and I am told very little material was agglomerated over the years that three different operators attempted to leach. |
