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Message: Re: Financials & MD&A
8
Apr 26, 2013 06:59AM
6
Apr 26, 2013 10:45AM
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Apr 26, 2013 11:06AM

Nosey Nose here is some info. I'm pretty sure the Tesoro is due in June or July:

To maintain our Peruvian properties we must pay approximately $90,000 annually to the government of Peru in fees. To maintain our British Columbia properties we (or third party option holders) need to expend approximately $150,000 annually in exploration on these properties.

As at February 28, 2013 we had approximately $538,447 of working capital, [which is, we believe, insufficient to fund our planned exploration expenditures for the current fiscal year in Peru]. Hence, if the opportunity arises we may raise additional capital through one or more equity financings to fund future activity or to expand our fiscal 2013 exploration program; or consider option agreements to continue the exploration of the Company’s properties with third parties.

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