RE: RE: RE: RE: RE: RE: RE: RE: RE: RE: Catalyst r sancab:
On November 9, 2012 the Company received proceeds of $600,
000 from entering into a loan
agreement with a local
Ecuadorian bank. The Loan is secured with the Company owned o
ffice premises in Quito; the loan principal is repayable in
six equal payments of $100,000 every 61 days commencing
on January 8, 2013 and ending on November 9, 2013; and
interest is charged based on the Ecuador Central Bank “Referentia
l Passive” Interest Rate plus 4.1%, the aggregate of which
is currently 8.25% and is due on the date principal repayments are made.
Seems like debt to me. Not much debt to be sure but depending on how much the water problem used up perhaps more to come. The next financials for Q4 2012 and Q1 2013 will be interesting.
As for the rest of your post I've been in this for about four years so there's likely nothing you can tell me, or most others, that we don't already know stat wise. I find your advice to us to be patient kinda funny.
Keep in mind as shareholders we've been hearing the same song and dance from Dynasty management for four years now.
Perhaps you don't remember this little jem of a release:
Vancouver, BC, September 28, 2009
– The management of D
ynasty Metals & Mining
Inc. (TSX: DMM, “Dynasty” or the “Company”) is very pleased to announce the
Company has poured its first gold at its rece
ntly commissioned gold processing plant at
Zaruma in Ecuador. In total, the dor
y bars poured by the Company contained
approximately ten kilograms (320 ounces) of
gold and 50 kilograms (1,600 ounces) of
silver.
Robert Washer, the Company’s President and
Chief Executive Officer commented: “This
is a significant moment in the Company’s hi
story and for the development of a modern
mining industry in Ecuador. We
would like to thank the gove
rnment of Ecuador for its
ongoing support for the developmen
t of the Zaruma Gold Project
, which is the first large
scale modern mining operation in Ecuador’s history.”
The Company has now successfully commissi
oned all sections of the plant. The
Company will continue to optimize plant op
erations by processing
material mined during
the ongoing development of the declines.
Also keep in mind I'm still in this. My point was that were I not already in this I can see no compelling reason to get in to Dmm at this point. Sorry but I can't.
One day if Dmm management proves they can get Zaruma to commercial production that opinon may change but right now, with Dmm's record I would not jump in until there was proof I'd not be putting my money in a stagnant miner that was just going to sit there spinning it's wheels when things everntually turn around.
Just my opinion. You may not like it and that's your perogative but it won't change my opinion.
BTW I think the shareprice makes it clear that potential investors agree with me.