No such message found

Welcome to the Silver Falcon Mining HUB on AGORACOM

(Edit this Message from the "Fast Facts" Section)

Free
Message: Very quiet all weekend....near 2 million ask at .07


Item 8.01 Other Events.

Silver Falcon Mining, Inc. (the "Registrant") has recently been notified that a Default Judgment and Decree of Foreclosure (the "Judgment") has been entered by the District Court for the Third Judicial District of the State of Idaho for the County of Owyhee in the action styled Earll Excavation, Inc. v. Silver Falcon Mining, Inc. and Joyce Livestock Company Limited Partnership, Case No. CV 12-2595 (the "Earll Action"). The Judgment grants a judgment against the Registrant in favor of the plaintiff in the amount of $567,743.56, plus post-judgment interest at the rate of 5.25% per annum. The Judgment also holds that the plaintiff has a first lien the Registrant's Diamond Creek Mill site in Owyhee County, Idaho to secure an indebtedness of $289,648.30, plus post-judgment interest. The Judgment further orders that a sheriff's sale be held of such property. Finally, the Judgment dismisses the Registrant's counterclaims against the plaintiff and William Earll with prejudice. The Registrant has retained new counsel to file a motion to vacate the Judgment, and believes it will be vacated. In the event the Registrant is not able to vacate the Judgment, the Registrant will need to raise capital to pay the Judgment.

Separately, the Registrant recently curtailed operations at the Diamond Creek Mill for summer holiday and furloughed most of its employees. The Registrant expects to be back in full operation by July 8, 2014.

Share
New Message
Please login to post a reply