RE: RE: Nice purge and accumulate.I agree with you gbcoish one of the best things SOHO has got going for it, is Glen. I wrote to him asking for an update, this was his reply.
As for Soho, things are progressing very well. Snowden Mining Consultants
who were hired to complete a Preliminary Economic Assessment of the project
are getting very close to completing their report on Tahuehueto. Ralph just
got back from Mexico where he took their reps on a site tour and they were
very impressed with what they saw. Snowden hopes to complete it by late
August to early September and all indications are that it is going to be a
very strong, positive report. I believe it will be very well received and
will generate much interest in the company.
At the moment we are still in cash conservation mode although we recently
announced a debenture unit financing of up to $500,000. We have received the
first tranche of this financing and expect the balance to come in within a
month or so. This will allow Soho to continue moving forward, by covering
the costs of the Preliminary Economic Assessment and general operating
expenses. With the report in hand, management will be able to determine the
most advantageous path for the company and its shareholders. Whether this
will include a merger or joint venture with another company, or bringing on
the expertise required to move the project forward ourselves, management
will be in a much stronger negotiating position.
I hope this answers your questions. Feel free to contact me at any time.
Best regards
Glen Sandwell