we're going nowhere for a long,long time. Seems like 80 million will last for 3 years. I'd like to thank management for this rectal stretching exercise they have put us through. Never experienced it before, did confirm that I wouldn't like it. This is from the prospectus from the pp on pg 13. Funny thing, I don't think they will accomplish it. Management has pulled a page from Obama's book, they HOPE to accomplish the following. Just great!Lets all stand in a circle, hold hands and HOPE. At this point it couldn't hurt.
Interesting how they use the term"generally Intended". I suppose other aspects of this corporation are to employ as many locals as possible in order to stimulate Bisset's economy,fund Hugh's bar, grocery store, drill rigs, management's trips and salaries, allow options to get exercised. Noticed how they left out being a viable enterprise as one of their objectives/milestones.
Business Objectives and Milestones
The main business objectives that the Corporation hopes to accomplish using the net proceeds of the Offering are to: (i)complete additional development of the 007 Zone including the acquisition of additional mobile mining equipment; (ii)develop exploration and potential access drifts from the Rice Lake Mine towards depth extensions of the L13 Zone, Hinge
Zone and 007 Zone and further exploration drilling of such zones; (iii) initiate decline and bulk sampling of the L13 Zone
and access remaining Mineral Reserves and Mineral Resources in the Rice Lake Mine; (iv) expand existing mill capacity.
The business objectives of the Corporation are generally intended to increase the Mineral Resources and Mineral Reserves of
the Corporation and ultimately to increase the amount of gold produced by the Company. It is difficult for the Corporation to
estimate the time period in which the business objectives of the Corporation will be accomplished due to many factors,
including the fact that many of the business objectives are dependent on exploration results. Notwithstanding the foregoing,
the Corporation hopes to accomplish most of the business objectives listed above within 36 months of the Closing Date.
