Core Gold DMMIF

Re:Re: Titan update

[RONNIE111]

I guess it is also true that Titan could continue indefinitely as long as someone is willing to keep dropping in ,it looks like, about $3m a quarter.  That seems to be what it takes to keep them going.  The Vista Mill is not going to be a profit maker any time soon, and now that the stockpile they accumulated in 2018 is probably gone, things will get even more negatively profitable.  And that would be if they escape various possible  Peruvian government actions. Truth be told, their best action to lower losses would be to walk away from Peru.  Sell the Vista Mill ,if that is possible, and become strictly a laptop company.

Now it might be said that Core has done something similiar, in that Core issued baskets full of shares for around $25 million. But I guess the difference is that Core used that money to pay back a lot of overhanging debt, improved the mill with a new tailings pond; got the mill ready for a couple $ million expansion that would see it become a 100,000 oz /yr producer , with ore sourced from their own properties and with a possible profit over operations in the $50 to $75 million range if gold stays at $1500; developed one of their properties into a reliable source of ore, with the potential to supply a new mill on site: and started some preliminary exploration on a couple properties that they totally own and that are very, very prospective.  

Quite a different use of the approximate same $25 million I would say.

[Teetotal]

And all that recovery was under Keith Piggott's watch. Those other so called Core management did the opposite. It was with Javier and his backers that much of this was achieved. Javier and his backers want returns and the Titan route is just not viable. Three months takes us into January. That's about when Titan resorts to their sophisticated backers again. In December Titan will have to

[Tapps88]

You sound like you are a little bit special Teetotal... Keith has run this company into the ground. Under his "watch" he expanded the share register by 400%. He did no value adding exploration work. He borrowed big sums of money off loan sharks at 30%pa.. plus there is the very real possibility he took money from the company accounts for personal use. In addition to that there is the