10K?
posted on
Mar 07, 2012 12:56PM
(Edit this Message from the "Fast Facts" Section)
A PR in early February said the 10K would be out later that month, meaning in February. No 10K yet, though. I had heard of a a delay, but it didn't sound like something that would be more than a week. Still, not expecting much from the 10K- Revenue will be minimal if only two smaller deliveries were made. And news of larger deliveries is still waiting on the smelter/vault completion, or the next 10Q over two months away. Even then, the recent PR squelched any hope of ongoing large revenue if the mill is only running at 15-25% recovery. If it took 2 years to realize they were running at such low recovery, or worse, two years during which they knew, did nothing about it, and didn't tell us, then how long will it take to add the circuit? And what about the mill capacity expansion? Haven't heard squat about that. Looks like we'll have to rely on other news to get the sp up before revenue does the trick. And what's the other news? Changes to the BOD would be nice, but I don't expect that to really affect the sp. 43-101? Maybe better, but the initial document will be primarily historical, with little new. Maybe there will be something about recent work and discoveries (RS's new veins?) but there will not be any resource calculations at all until we do a lot of drilling- and even then there's no way a huge resource will be delineated right away. It will be a process of gradually increasing proven resources as more drilling is completed. Hopefully they have pinpointed areas to drill that will provide spectacular results. The TSX listing will have to wait for the 43-101, and maybe other changes to meet the listing requirements. I wonder if they will try for the Venture exchange first, and then uplist to the TSX?
Then there is financing. It would be nice to see some non-dilutive financing for a change. They really need to get things moving, expecially now that good weather is right around the corner and they can start drilling on top of the mountain. No blasting permits needed there.