Waiting for Green LightOn October 25, 2006 the Corporation raised $2,750,000 at $0.10 per Share. Total cash and & cash equivalents in the fall including this financing was over $6 Million.Pretty substantial relative to the the low Market Cap of this stock SAU is Cashed up and Ready to EXPLORE ! ....
all that is required is News from Gecamines and the Race is On.
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https://www.simberimining.com/news/2007/index.php?&content_id=90 On December 22, 2006, PTM Minerals received a letter form the Minister of Mines in the DRC (the “Minister”) addressed to the Vice-President of the Republic in charge of Economic and financial commission, the Vice-Minister of Mines, PTM Minerals and Gecamines, whereby the Minister confirmed the following:
an agreement regarding the tailings resource which constitutes the tailings portion of the Kakanda Project has been reached and a formal and final agreement should have been entered into between PTM Minerals and Gecamines on November 30, 2006. PTM Minerals interest in the deposits which constitute the hard rock portion of the Kakanda Project (the “Hardrock Deposits”) supersede certain subsequent interests which were granted in the concessions in which the Hardrock Deposits are contained and it is therefore incumbent upon Gecamines to respect, enforce and re-establish the rights of PTM Minerals in the Hardrock Deposits.
Gecamines should formalize and give effect to the foregoing agreements without further delay. While discussions on the joint venture have been continuing for some time, management of Simberi and PTM Minerals cannot define the exact timeframe in which the formal joint venture agreement will be signed. However, management of both companies are confident, based on the terms of the original agreement between PTM Minerals and Gecamines, the progress of the negotiations to date and the explicit statements of the Minister,
that the final agreement will be signed in the near future.