RE:RE:RE:RE:Dividend Spoke to Jean yesterday. Although hedging due to what he can & can not say he is what he said:
June 15th the larger section of ball mill shipped (the Chinese had to build it, none in stock) the head section of the same ball mill shipped June 23rd (unit TOO big to ship in one container). All due there the second week in July. The new Cone Crasher can handle 20 t/h++. With the new ball mill we could see 120 t/d + assuming enough material on site.
Rainy season in Honduras so I was told the drill program won't be happening any earlier then end of Sept., (Dec. was his first reply but modified to Sept so probably Nov.). The more they look around the more tailings piles they are finding all within 45 minutes of Cobra de Oro. Tons & tons of tailings that are sulfide based & mercury won't process the ore due to sulfides. He said probably the mill will have the new ball mill fitted to the process in August (probably late August).
He did say that there are big buyers watching to see the volume increase consistently. So the buyers that can move this stock are there & watching. Heck Sprott could unleash a barage of big time buyer clients whenever he feels the timing is right.
A few things must be put in place:
1) The concession becoming a known quantity with drill results w/pre-feasibility & feasibility reports done. All costing bucks & time. That is why uncovering a vast amout of tailings would be a real boon. With some quick work on sampling both random grabs, extensive low depth drilling on the piles & with the high tech testing equipment at Cobra de Oro this could move quickly. Also the Ministry of Mining has alot of data on the La Cobra concession (over 50 years in the making). The drilling never went to any depth, shallow drilling with high grade results, which is encouraging. Quite possibly the high grades continue at depth.
2) Cobra de Oro running at full (120 t/d) or better.
3) Ore & tailings @ 16 grams/ton or better. He says 8g/t on the conservative side.
4) Proven cash flow with high percentage profits. The Tailings piles could be outstanding?? We will be finding out. The profits from rich tailings piles would be drop dead profits, with possibly no upfront charges, but at this point still being framed out.
5) The piling on of investors awaits the list above. Checking off this list will move the stock. The Concession, big find on tailings piles ore rich, & capacity of mill. The mill will be first. End August? Hopefully everything falls into place, it would be a first, but CEO is on a roll!!