I quote Liberty saying: "Anyway, you say let the facts do the talking, well here's the fact that I would like to speak up:
" ISM has working current capital of approximately $36 million, with the potential addition of $20 million in convertible securities..."
Where are the convertible securities that can potentially $20 million to current working capital? I cannot find information that supports this claim being factual, and when something not factual is included in a brochure, in my opinion it can be deceiving if it is a material amount. $20 million is material [its a whole year's expected exploration funds]. So what is this $20 million that can become cash within one year?
Quagmire has directly quoted the latest company investor brochure and I will quote the August 2007 company update. Of course this is several months earlier and the amount is that much higher than in our brochure.
"Working Capital
With the completion of its recent private placement, the Company has working capital of approximately $38 million. On a fully diluted basis and assuming the exercise of all of the outstanding warrants (approx. 75 million shares fully diluted), the Company will have working capital of approximately $57.5 million.
These reserves are more than sufficient to continue and expand the Company's development of both existing and newly acquired properties. In that regard, the Company is in the process of expanding the Langmuir drilling program including the addition of both surface and deep drilling rigs. It is the intention of the Company to have multiple additional drills in operation by the end of the summer and to increase the exploration costs from the current level of approximately $275,000 per month to $1,000,000 per month. That exploration will extend onto the properties recently acquired in the vicinity of Timmins, Ontario.
The Company is also proceeding with its detailed airborne magnetic and electromagnetic survey of the Jasper Property on Vancouver Island. That survey, along with the evaluation of the results, should be completed by December 31, 2007 at an expected cost of $150,000. "
So these two quotes are not facts. from a trustworthy source?
Heres the links to both sources of info
http://img514.imageshack.us/img514/9...
http://www.inspirationmining.com/new...
