GREY:PTQMF - Post by User
Post by
wwadehammeron May 29, 2014 1:25pm
301 Views
Post# 22610982
Show Me The Money
Show Me The MoneyThat's right Paul, if we assert our rights to develop Lomero Potayos with the Spainish Government, what's the government going to say? Sure, go ahead. just make sure you meet the develpment milestones we lay out for you up to and including starting mining by June 30, 2015. There's no money to do that, Who's going to loan us the money now? In reality, there's no way they can ask for development rights for Lomero Potayos without money. So in reality, Lomero Potayos is dead.
Our only hope is that operating Molejon for five years pays-off all existing debt, while we start operations in Portugal with a start-up cost of eight million dollars. If there are earnings from Portugal, the earnings should go towards paying off existing debt. According to MJK, we could produce around 1,000 ounces a month from the most promising of the two Portugal mines with my estimated profit of $900,000 a month. If true, we could pay off existing debt in three to four years, and then, and only then, might we be able to get a loan to develop Lomero Potayos.
We need management to come out with a five year plan telling us how we're going to return to profitability and pay off all debt. I'm almost at the point of giving up because I don't realisticly see how we can crawl out of the hole we're in. We certainly can't crawl out unless there is some kind of plan. If the plan depends on fifer raising more money (likely the purpose of his New York trip), then we're probably finished.