GREY:BNCIF - Post by User
Comment by
TKingadvisorson May 07, 2015 10:18am
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Post# 23703751
RE:RE:Scam???
RE:RE:Scam???Gmachine wrote: I'm sure their is a whole lot of us in your position(me included) but let's keep in mind that the red we see is on paper only, and like it or not this 10 for 1 is needed for future growth if the company wants to survive.If I were Spiro I'd be picking up the phone and trying to secure an off take to raise funds and get this El Tejon mine up and running.Does anyone know where we are with the permits?Why Spiro put on the brakes while FDR was doing their due diligence I can't understand.That put us back at least 10 12 months.Hang in their guys and right this off as dead money for now.
Permits would cost NRT roughly $100,000 - $200,000 and it doesn't seem the company have the cash to do that at the moment. Spiro know that the permits would restore the company credibility but in order to do that he needed more cash. In order to raise that cash they are forced to do 10 - 1 consolidation. A letter of intent for off take should raise the company pp to a decent level to raise additional funds for permits