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Gold/Mining/Energy : Gold and Silver Mining Stocks -- Ignore unavailable to you. Want to Upgrade?

To: W PAUL who wrote (1959)	8/29/2001 8:44:48 AM
From: russwinter	Respond to of 4051

<If Geomaque has not got a minimum convertible price it is either ignorant of what can happen or very desperate.> I've looked for this and just can't find a minimum clause anywhere. Have an email into company about it. But, I think it's a Vito and Guido finance deal from the get go. Ironically I spotted this a long time ago, making comments about small undercapitalized producers going it alone. Message 13808951 What sucked me in on these guys was that they actually got this mine into commercial production well below budget (there's very inexpensive mining equipment available out there) and the actual grades are coming in BETTER than the feasibility study pointing to even lower than 169 cash costs. I really think GEO is a good miner and knowledgeable people like Jim Steel feel VR is a fine deposit with hidden value. But, they tried to do it on a shoe string, and I believe are being taken to the cleaners by this bank. The loan speaks for itself: $3.5 million at 5% with $825K annual fees. Simple math, that's an 28.5% interest rate. Then add these toxic warrants, and RC is set up to steal this asset. And then this atrocious analyst plug pull at a critical juncture speaks for itself as well. On the ropes alright, but to who?: researchcap.com I see this as salvageable (but I also thought TVX could prevent severe dilution and judging from this they could have: siliconinvestor.com, however they need a corporate white knight to inject just a little bit of cash: $3.5 million to get rid of Vito and Guido, a maybe two million more to get the payables caught up. Somebody will no doubt get a great deal, but at least it will put things on a sound footing. Will prevent a defacto foreclosure on a $25 to $40 million mine and deposit for a few million bucks as well. They have a month, better get hopping.