RE:RE:RE:RE:RE:RE:Streaming deal with SLWWhere did the $C20Million figure to start back up mining come from? I've read their latest presentation, news searches etc etc and I've never seen that figure mentioned. That figure was the number mentioned for their environmental company's margins or earnings but in everything I've read I've never heard they need $C20Million to get going mining again.
That last confrence call in December made the point that SLW desires repayment, of course but the way I understood it was they'll start getting that money again soon as the company is mining again, as their "lien" is only on that particular mine NOT on the entire company. A JV offer would most likely be the same deal - it's made only on that particular mine or asset you want to build or expand that they would offer the JV on. It's NOT on the entire company.
Their mine has been closed for over 2 years and you think they won't have trouble hiring back all their needed people after that much time being closed for business?? There's several mines in that area and those laid off from AXR have either left the area or have hired on someplace else. To expect no problems hiring back professional and highly skilled workers at the level and speed required for full staffing of the existing mine and even more people to expand their mining business and I just don't think that's the present real world situation in that part of northern and remote Canada. Unlike you I think that will be difficult. (It MAY be (one of) the reasons they aren't back to work already). As well as highlights their financial advantage to do some kind of JV to grow BOTH their mining AND their environmental companies. It's either grow & progress or get bought out and go do something else. These guys were in the environmental mining remediation business long before they were in the silver mining business and I think some around here have forgotten that. They were environmental mine remediation experts (I'm paraphrasing a bit) that were the only bidders on a huge risk filled (a real money pit) project (and entire silver mining district) that the govt of Canada awarded them in return for them cleaning that area up which in that area of their mine they did. And now as a result of that, they find themselves as genuine and authentic silver miners even though (I'm betting) not one of them could even I.D. silver ore in the ground in it's natural setting. That's wasn't their area of expertise. That's why they hired Geo's, Mining Engineers and many other professionals along with the blue collar mining jobs. Let's hope that with the passage of a few years that's changed and they ARE real silver miners. And the next few months should tell us all we'll need to know. Especially if the price of silver and gold keeps rising from here and they're slow to get started back mining in this type of environment. Because they only make money & prosper when they're making silver...
GLTA