HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: Re: A question for the forum.
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Aug 23, 2008 05:32PM
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Aug 23, 2008 08:24PM

The tricky part longstockings is we have about 1 year, maybe a year and a half with Windfall sampling of cashflow. That is at current expenditures. If we move into production, we will be increasing our burn rate, decreasing our months of available cashflow. I believe we currently do not have enough money to bridge us from now until we are able to receive revenue from production. That is just my opinion of course. Management has enough experience that they may be able to find a way to bridge this gap. The easiest would be to be working towards putting windfall into production. We do not need a 43-101 to mine it ourselves. We are close to infrastructure there, the mill is close, gold is easy to sell and we are already underground with our ramp. If we can get mining permits in time, this would be our best chances at not needing out money from an outside source.

Hope this helps understand our situation better,

all this of course is but my opinion,

Glorieux

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