RE:Vote NO to proposal and Withheld Why bring in a ghost such as Veris (Yukon-Nevada), many of you don't know the whole story, it would have been successful if it haddened been hit with a couple of major shutdowns.
First the bull gear at the mine broke.
Then Nevada shut them down because of pollution, they used coal to break down the sulphite ore in the roaster
Graham devised an anti-polution system for the roaster, in fact the last two owners of "Veris" have licenced the system to keep the mill working. It is only one of three roasters in Nevada that are processing sulphite Au ore.
Meanwhile Marland and his European gang bought in. (lenders of last resort) His interferance caused a lot of problems for Veris
During all this, Veris took out a loan with DB for the amount of a couple of hundred million dollars.
Veris was taken over under Administration by DB, and Sprott made a proposal to operate the mine, and re-pay DB. Sprott is a private company, so there are not any financial records available. It is known that Sprott got the mine on the condition that the DB loan would be paid off.
Sprott, last year sold the mine and all it's properties to First Majestic, who by their lates financials are showind an operating profit.
Their land position is enormous, and has just started to being explored.
At no time, was Veris put into bankruptcy, just administration to re-organize
So, so much for Veris(Yukon-Nevada), it could have been something great
..... Richard