This is the year when the rubber obviously meets the road and I'm glad for it. The previous methodology was not providing deliverables. I have compiled a few questions for Gary based on our 2013/12/30 and 2013/03/01 News Releases.
2013/12/30 News Release stated:
- 'UC Resources reports that mill operations have been closed and will be kept on temporary care and maintenance'.
- 'The Company has not been able to run the mill profitably using the on-site tailings'.
- 'In the new calendar year, the Company will prepare for Hard Rock mining at it's Xora concession'.
- 'The Company is currently negotiating on a debt facility which would allow hard rock mining to commence on site'.
2013/03/01 News Release stated:
- 'Company will be able to process tailings in three tailings ponds at the site'.
- 'The Company consigned Clifton Environmental Services Ltd. for a larger tailings pond to accomodate production of the Xora virgin ore material'.
- The Company will begin discussions with a Narrow Vein Mining Contractor for the Xora concession'.
- 'The Company plans to mine, deliver, crush and process this raw material at the mill'.
Questions:
- Will this temporary closure exceed 30 days?
- What is the closing date on the financing?
- Did Clifton Environmental Services complete the construction of the larger tailings pond?
- Did UC complete the Narrow Vein Mining Contractor discussions and commit?
- Did we deliver, crush and process the Xora raw material successfully at the mill?
- Did the effort and yeild from this exercize indicate profitability at an $18.00/oz for Ag?
I will post Gary's response as & when I receive it.
Keep healthy folks !
Aafab