fco
posted on
Nov 09, 2009 11:44PM
Edit this title from the Fast Facts Section
This was copied from another board
November 9, 2009 Hi Tom, Thank-you for your inquiry. The objective of the Nov 3 meeting to which you referred to below, was for Formation to obtain a Final sign-off from the USDA National Forest Service on all outstanding issues on the Mine Plan of Operations and, we are pleased to say, this was accomplished. Agreement, or a critical path to reach agreement by the end of November, was reached. There were a few outstanding issues (roads, water monitoring etc…) but the most important, at least from the shareholders perspective, was the amount of the Reclamation Bond Formation will be required to put up with the Forest Service. A reclamation bond is an extremely complex calculation (and sometimes very subjective) which, in the end, represents a very significant dollar value for any mining company. Formation is extremely cognizant of the impact of each business decision and makes them in accordance with maximizing value to the shareholder – both for the short term and the long term. Sign off, or an agreement in principle with all issues, was critical in our ability to move forward with a mine financing. Any organization taking part in a mine financing wants to have risk minimized and value maximized. We have been working very diligently on putting together a mine financing that makes sense for both the investor and the shareholders and hope to announce soon. Thanks and best regards,
Leianne Emery Leianne Emery Business Improvement Director Formation Capital Corporation 1730 - 999 West Hastings St. Vancouver, BC V6C 2W2 Email: Lemery@formcap.com Web: formcap.com Phone: 604.682.6229 ext 6 Fax: 604 682 6205 Formation Capital Corporation NOTICE - This message and any attached files may contain information that is confidential and/or subject of legal privilege intended only for use by the intended recipient. If you are not the intended recipient or the person responsible for delivering the message to the intended recipient, be advised that you have received this message in error and that any dissemination, copying or use of this message or attachment is strictly forbidden, as is the disclosure of the information therein. If you have received this message in error please notify the sender immediately and delete the message.
I asked FCO what the main hurdles to bring the mine to fruition that were discussed at the NOV 3rd meeting. I received the following reply;
email:inform@formcap.com website:www.formcap.com
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