maybe...Maybe they cannot raise the funds to get the candamena property?
The purchase price is all over the place.
From Sedar;
News release aug 16 /07 - purchase price is $6375000
then
news release Jan 25/08 - purchase price is 5.5M
First Majestic had the prop since 2004 and brought a couple of mines into production in that time. comb the sedar info on Candamena- there is really nothing.
but yet in their june 30 /07 financials they state they spent 840K on exploration from dec06 to june07- still no press releases or anything on this- also the purchase price is dropped, which is weird since on FM's docs it goes to state the 6.37M number.
PRR may be having a difficult time getting the funding as they have been signing directors, PR guy, and others to help them get this thing off the ground. Remember there is also an outstanding payment left on the property in Nov 08- of between 3.75-3.825 (from FM's sedar docs.)
also there is another payment due this spring - sorry I forget when and exact numbers- I think it is around 1.8m - you have to check for yourselves on that one.
For a prop. that looks so great why are FP selling the whole package with no NSR- also they state that it is beside or close to their other property, why couldn't they just do a JV take a NSR and do some of the processing at their plant just to get up and going quickly? Why did they wait and wait to develop this land? If I had a producing mine and a piece of property beside it, wouldn't you want to drill some holes and get a 43-101 with an inferred resource on it, if it is there?
I know the suspense is killing everyone but you also have to remember that the CEO is a P.Geo. and with the smaller companies they are working GEO's and things take way longer because when you are out in the field you are not in the office running the company.
I don't know on this one.