Fabled Silver Gold Corp T.FCO

response from email

[butterfly5]

 "The Company is waiting for the final EIS (Environmental Impact Statement) to be completed and registered with the Federal Register.  This typically is accompanied by an ROD (Record of Decision) which for all intents and purposes is a mine permit.   According to the Forest Service's SOPA (Schedule of Proposed Actions), they expect the final EIS to be done in "10/07" - this month.  Whether or not they can stick to their schedule remains to be seen, however, it is encouraging that the Forest Service did not change this schedule when they updated their SOPA website on Oct 01.  The SOPA site is updated at the beginning of every calendar quarter.

 

Regardless, the company is not letting this affect its schedule as evidenced by our Sept news release that announced we have made down payments on key mine equipment for delivery next summer.  This obviously speaks volumes regarding management's confidence in receiving all the necessary permits, securing mine financing and commencing construction.  As it sits right now, the final permits are expected sometime this fall, then following an appeal period of 45 days, and an additional period to review any appeals, and assuming financing is in place, we could conceivably commence construction later this year or perhaps in the first quarter of 2008.  Construction is expected to take about a year, after which production of cobalt/copper/gold concentrate will begin for shipment to our refinery for processing into high purity cobalt, copper and gold metal."