The Revenue Mine debateMay 13, 2014 audiocast: re: R-V mine purchase.
1) Mill is completed and doing 250 tons per day. Mill is 3-4 weeks away from 80-90% capacity. The 250 tons is supplied by 2 shifts 4 days a week. MILL IS COMPLETELY BUILT. And away we go. Operations are on going on day one!! Cash flow positive. Except of course we know that the primary mine area worked initially was in the Yellow Rose Vein which turned out to be utterly uneconomic. There was 5 months between the May down payment and Oct closing. WTF were they thinking! 1) not only proceding with the final OCT purchase but 2) accepting the Lascaux term sheet. Then they drive the nail through the beating heart of FT by pledging NICO and Arctos with net present values of 200 and 600 million respectively.
2) Jim WIlliams one of the principals of the selling group (Star Mines) states he is selling the mine to FT because FT has deep operational experience. Much more than other bidders. It gives him great confidence. WHAT?
3) Williams is a mine development entrepreneur, decades in the business having done 100 and 200 million dollar projects. Yet not one project mentioned or bragged about. He skillfully managed to off load a bag of pus on the likes of Mike Romaniuk, SINOMACH, Procon, Lascaux, the FT BOD and Goad. Does anyone know the hold period on the truck load of FT shares given to the Williams selling group?
Does anybody know the gross revenues collected for the silver delivered to the Trail BC. smelter. If trucked it would have been 85% of the ore value in CASH! at delivery
"...something brewing here boys?"
It better be big to justify the R-V mine Potemkim hoax.