What is going on ? exploration expenditures relating to its Ecuador properties. The
government recently canceled most of the mineral concessions in the country and also suspended all
operations within the country for at least 180 days. As a consequence of the Ecuador government actions,
it is no longer possible to proceed with the option agreements.
The Company incurred exploration and development expenditures of $425,967 in fiscal 2010 and $771,185.
There you go they plowed there 12 million on this ecuador property and lost it all now have 150 million shares outstanding and no money left to work on there canadian stuff left.
They need another 100 million of share delusion to make up for what they loss or do a roll back and try again.
To bad should of stayed on Canada a lot safer than Ecuador !!!!