Maudore Minerals Ltd MAOMF

RE:Will this one go bankrupt ?

[harmony305]

Nowhere near bankrupt!

On June 30, 2013, the working capital of the Company was at $7,975,637 ($1,157,087 as of December 31, 2012). The global economy and financial markets have been unpredictable for many months and have impacted our industry and its ability to finance

This should provide cashflow for the next 6 month for the mill.

As previously reported on August 16th, Aurbec and Abcourt have signed an agreement whereby Aurbec would treat the mine production from Abcourt’s Elder mine located near Rouyn-Noranda, Quebec once the required permits were in place. On September 11th, that permission was received opening up the ability for the processing work to proceed

Here is the unknown. Will they find historical grades? Do your own due diligence.

Aurbec has signed a contract with Forages M. Rouillier Inc. of Amos, Quebec, who will provide up to three underground diamond drills and crews to complete 20,000m of underground diamond drilling. Two diamond drills are currently on site.
One diamond drill will target extensions of Zones #20, #30, #8 and #3 from which 90% of historic production at Sleeping Giant was derived. Figure 1 shows the number of historical ounces produced with corresponding grade of gold-bearing veins at Sleeping Giant. These veins were mined at lower gold prices and gold-bearing material left behind on lateral extensions has very good exploration potential (Figure 2). Vein extensions may quickly convert to areas suitable for near-term gold production.
A second diamond drill is positioned deeper in the mine on the 975 level and will complete a fan-shaped array of holes targeting the 16 and 785N zones, which are two sub-parallel gold-bearing quartz vein systems that are located some 50m from each other. Historical drilling on the 785N zone returned 20.59 g/T Au over 1.8m in adjacent drill Hole 97-382-11. In the lower section of the mine, underground drilling will target the new zones with high exploration potential which may convert to areas where medium-term gold production is possible.