RE: Three NI 43-101 projects
Larix,
The long term debt is secured against the substantial asset of the Tirisano mine which is mothballed due to the incompetent management of Transhex, this mine is not included in the proposed spin-off of Etruscan Diamonds and has therefore not been included in my NAV.
Other long term debt $488k has to be balanced against $1.7 million raised since Oct (not taken into account in the NAV, but the diluted shares have been)
I consistently low-ball estimates, if the SP shoots up, although gratifying, my buying opportunity vanishes. But going back to VL, this is a 27km. claim. The NI 43-101 estimate was for one location and for example did not take into consideration the drill hole 13km. away that had decent results including 31g/t over 1m.