RECENT HIGHLIGHTS
- Completed oversubscribed $1,168,000 non-brokered equity financing through private
placements for 8,060,535 non-flow-through units at $0.145 per unit. [Bringing total funds
raised throughout the year to more than $3,000,000, and more than $5,200,000 in the last
three years]. Each unit consists of one common share and one-half share purchase
warrant. Each whole warrant entitles the holder to purchase an additional common share
at $0.20 per share until May 23, 2013
- Cash position of more than $1,500,000 with no long-term debt
- 70.5 million shares outstanding trading at $0.26 (three-year range $0.08 - $0.28)
- Prior to year end, 800,000 share purchase warrants were exercised for proceeds of
$120,000 and post year end, a total of 6,355,000 share purchase warrants have been
exercised for proceeds of $953,250
- 19.6 million in-the-money warrants still outstanding, with exercise maturity dates in 2013
and 2014, for a total of $3.4 million if exercised
- Mexico Catanava Plant in Start up Test Mode
Construction of the facilities is almost complete and the plant is operational. Finishing
touches are being made to the plant and the buildings that support the operations (e.g.
the offices and assay labs). Plant foundation has been completed and the machinery and
equipment installed, including the ore bins, conveyors, vibrating screens, ball mill, cone
and jaw crushers, cyclone, and wave tables. Once the equipment installation was
completed the roof was built, and the PVC piping to the tailings area was installed. The
transformer and power lines have been connected to the plant
- Permitting is substantially complete. Environmental (SEMARNAT), water (CONAGUA), and
recently the explosive (SEDENA) permits have all been received
- The plant is operational, though some work is ongoing, and test production is underway
- Application process for TSX Venture listing to be completed concurrent with the filing of
these Financial Statements
- Management continues to pursue micro-mining approach to identification and
procurement of near-surface deposits that can be extracted at a low cost.

FANTOMAS