the company has high aspirations that will take a whack of cash to effect:
As announced in April 2010, the Company's plans for 2010 are to advance the Lamaque property with an emphasis on:
1. Compiling recent drill results into the existing resource model to
determine if an extension to the Forestel Zone can be seen in 3D to help
with targeting subsequent holes.
2. Updating the existing database and re-sampling previous drilling
programs to determine if updates to the resource estimates can be
conducted with a goal of delineating 4-5 million tonnes of high-grade
gold mineralization.
3. Continue drilling at the Triangular, Forestel, Number 10, Parallel Veins
and Number 16 zones with the intention of defining new resources.
and once again....Might be time for Hughes to get together with Finsky and discuss a buy
in.
In the Feb 10 MD&A
Pursuant to a management agreement contract with Hastings Management Corp.
(“Hastings”), a private company controlled by a director, the Company was charged
$489,000 (2009 - $385,000) during current period. The contract is for a one-year term
and is renewable thereafter. Either party with 30 days notice can terminate it.
The services to the Company included supervision and administration of the financial
requirements of the Company‟s business, producing quarterly accounts in accordance
with public reporting requirements; communicating with various regulatory authorities in
order to ensure compliance with all applicable laws; assisting in the preparation of news
releases, professional analysis and planning of exploration programs, promotional materials
and other documents required to be disseminated to the public and responding to any
requests for information or questions which may be posed by the public; providing access
to secretarial services and legal consultation; providing office space, office furniture,
boardroom facilities, access to photocopier, fax and such other amenities normally
associated with office needs; and providing such other additional instructions and directions
as required.
