Re: Sinister
in response to
by
posted on
Sep 24, 2013 11:40PM
Keep in mind, the opinions on this site are for the most part speculation and are not necessarily the opinions of the company WITHOUT PREJUDICE
There was a displayed intereset in the Cueva Blanca(CB) last year by Buenaventura.
There were verification samples taken from the CB around this time.
Buenaventura asked for a review of historic data.
Historic data showed an estimated resource of gold, 160,000- 190,000 ounces of gold, ~1 million ounces silver down to a depth of approx 90 meters, in the area of the Cruz Vein system.
The historical data suggested open pittable, starting at surface to a shallow depth of 90 m.
Geophysics suggested chargeability anomalies below this mineralization as well, which could easily enhance the old estimated resource.
Investors were never told if this interest had lapsed, but were told in a news release when it had arisen.
The proposed sale of the CB for $100,000 when no attempts at raising cash before hand to prevent a sale, suggests mismanagement.
A $90,000 offer to secure Peruvian assets was refused by current management, before the sale of the CB.
The CB sits adjacent to Candente,s ~5 billion pound copper resource.
The CB has huge diatremes with copper components on the side of the property adjoining Candentes.
Buenaventura is a copper miner as well as a gold miner in Peru, it specializes in buying out small, near surface deposits of around a couple hundred thousand ounces of gold, to put into quick production.
$3000 per day spent on travel from Nov 2012 -Feb 2013. Perhaps mismanagement of funds?
Other financial columns quite high for an explo company in dormant status. Little consevation of cash noted.
Management increased CEO salary last Oct, and perhaps consulting fees for one or more of management.
IMO