RE: Financials Out........Just home and read the news. I like it and here's a few points I'd like to point out.
1. "The previously-announced private placement is still being pursued, however, there has been a noticeable decline in the market for gold equities, arising almost exclusively from the decline in the price of gold. Other alternatives are being considered, including:... Reducing the amount of the proposed private placement, (not because of lack of interest, but because of potential dilution)"
Does this not seem like a contradictory statement to anyone?
2. "In January 2004 Norwest Corporation (Norwest) was retained by TVI to complete two updated feasibility studies on the Canatuan project. The first study will evaluate the feasibility of a 250 - 800 tpd throughput, stand alone mining operation on the gold and silver - bearing, oxidized (gossan) portion of the Canatuan massive sulphide deposit. This study will be completed in May. The second study, to be completed in June 2004, will evaluate the feasibility of sequentially mining the oxide part of the deposit, followed by mining of the copper-zinc bearing massive sulphides, which underlie the oxide zone. The purpose of preparing these studies is to independently evaluate the merits of various expansion alternatives, value the project in the current environment, project future cash flows, and provide a comprehensive document that can be used to support possible future debt and equity financing initiatives."
This can only mean that we will continue to have news releases for quite some time yet, meaning the stock price will have reason to move one way or the other.
3. "EDCO Drilling Operation Increases Revenues 20%, Generates Positive Cash Flow."
Cash infusion with no end, very positive for an explorer [currently we are still an explorer...right?]
4. "Drilling has been relatively slow to date, mainly as a result of encountering very difficult ground conditions, including the presence of extensive silica replacement zones, badly fractured zones and zones where the hole has caved. Results will be released in due course. During the period $128,546 was spent on exploration activities. Exploration expenses are expected to increase significantly throughout the remainder of the year."
This is definitely not the greatest of news as it can only mean it's going to cost more money to complete the project, but I'm sure management didn't expect everything to go smoothly.
5. "We believe that the merits of these properties are such that they would make very attractive joint venture candidates."
I really like the sound of this.
6. "cash flow from our 2.5% NSR royalty interest in the Rapu Rapu project expected to start in Q1"
Was this not supposed to start in the third quarter of this year?
There's probably more I need to point out but for now this should keep some busy replying
Regards, DH