Post by
nofluff on Nov 21, 2013 3:35pm
sept 30 financials
We are in debt 25000 or so to directors. I am guessing the 50t loan was from EB so he could get paid. We need 125t to make our option good on may 1,14. WE will spend more buy then. We could not raise the money at a nickle. I think they are saying give us options to cover our invoices. The 50t is likely convertable to stock. That leaves us needing to raise 200t in real cash. Metal prices over the next 6 months will tell how close I will be with my 1 cent bid. If copper is under 3.00 I will be close. If over 3.50 It will go at .10. Who will own this deposit in the end?
nf
Comment by
nofluff on Nov 21, 2013 8:37pm
I am sorry. I looked at my zeros. It should read 250t. I need clarification as to this being covered by options. Upon dd I can cover it all anyways. My 1 penny bid is cheap. But better than bank rupt. This play is a going concern. We need clarity. Nf
Comment by
GenHandgrenade on Dec 03, 2013 11:51am
So this is the play you were pumping on the CBS board last year. Touch and go if they are going to have enough money to make option payments now and be able to hold on to the property. Well the SP is a lot cheaper anyway LOL
Comment by
nofluff on Dec 03, 2013 12:50pm
Yes it is GG. The option cash is no prob. I have that covered. I am sure others will up my bid. And you are right about the sale price at this point. Tommorow is the agm. So Jan Feb share price will be interesting. Yes. I am still bidding and buying. Thanks for your interest. nf