ome of my Notes from CC.
1) Joel first pointed to the fact that when he took over, the company had 10.1 billion shares that were authorized. Now, there are 7.4 billion authorized. Joels goal for the third quarter is between 5.1-6.1 billion shares authorized. So far, there have been 130 million shares that have been bought back ( check last fins) and projected buybacks for this quarter are between 250-500 million shares, but that number can go up depending on revenues.
2) Ghana mine is fully permitted, and the company will receive 85 percent of all gold with 15 percent going to the landowner. Projected daily processing is 250-500 tons a day, with a near estimate of 20k a week in revenue. Future quarters will go up to a prospective 50k a week.
3) Keystone no permits are needed because the company is trucking, not mining the material. Mngg will provide logistics for the operation and the companies take will earn them 20 percent. Currently there are 80k tons that are ready to process. All trucks have been approved by ADEQ and all other governmental agonies in relation tot he trucking and logistics components of the operation. First Nevada Mining Corp's new mining technology will be used on the keystone mine, which will allow the parties to extract up to 90 percent of all gold tailings. 25k a week in the near future, with at least double that in the long run.
4) Congress mine is still in the works to get properly permitted. New wash plant and zero discharge facility are in the works there.
5) There is over 1,000,000 dollars in total equipment now in possession of the company.
6) Canadian halt will be lifted after the company pays the Canadians 18k. Estimate for third quarter this year. Also, once Form 10 and audit are ready, Joel says the process will be ten times faster.
7) Debt status is the same as the last filings. No debt conversions, and last debt conversion was on 9/9/14. Total company debt is less than 600k. It was 3.3 million when Joel took over the company. 25 percent of gross will go to buyback, and another 25 percent will go to cash reserves and equipment. Company will be debt free by the 2016 annual report.
Joel is interested at expansion, but for the time being, is not going to do anything until all three mines are up and running. Revenue generation from current operations are his main priority.
9) Has been approached from third parties to take equity positions, but is not interested at this time. He said family, friends, and shareholders will get first dibs.
10) Keystone was traditionally a copper mine, but has gold. Congress is purely a gold mine. Expect to see some silver or copper in the gold that is sold from Keystone.
11) Canadian technology will be used at the keystone mine and will allow the company to extract between 80-90 percent of all gold from the tailings. That is more than average. I think he said average was 60-70 percent.
12) Joel has a goal of 2.6 billion 0/s by december with a total goal of all o/s at 500 million shares in the end. No reverse split will occur. He also stated that there will be monthly filings for each location when revenue hits.
These are my notes, please feel free to add anything.
1) Joel first pointed to the fact that when he took over, the company had 10.1 billion shares that were authorized. Now, there are 7.4 billion authorized. Joels goal for the third quarter is between 5.1-6.1 billion shares authorized. So far, there have been 130 million shares that have been bought back ( check last fins) and projected buybacks for this quarter are between 250-500 million shares, but that number can go up depending on revenues.
2) Ghana mine is fully permitted, and the company will receive 85 percent of all gold with 15 percent going to the landowner. Projected daily processing is 250-500 tons a day, with a near estimate of 20k a week in revenue. Future quarters will go up to a prospective 50k a week.
3) Keystone no permits are needed because the company is trucking, not mining the material. Mngg will provide logistics for the operation and the companies take will earn them 20 percent. Currently there are 80k tons that are ready to process. All trucks have been approved by ADEQ and all other governmental agonies in relation tot he trucking and logistics components of the operation. First Nevada Mining Corp's new mining technology will be used on the keystone mine, which will allow the parties to extract up to 90 percent of all gold tailings. 25k a week in the near future, with at least double that in the long run.
4) Congress mine is still in the works to get properly permitted. New wash plant and zero discharge facility are in the works there.
5) There is over 1,000,000 dollars in total equipment now in possession of the company.
6) Canadian halt will be lifted after the company pays the Canadians 18k. Estimate for third quarter this year. Also, once Form 10 and audit are ready, Joel says the process will be ten times faster.
7) Debt status is the same as the last filings. No debt conversions, and last debt conversion was on 9/9/14. Total company debt is less than 600k. It was 3.3 million when Joel took over the company. 25 percent of gross will go to buyback, and another 25 percent will go to cash reserves and equipment. Company will be debt free by the 2016 annual report.
Joel is interested at expansion, but for the time being, is not going to do anything until all three mines are up and running. Revenue generation from current operations are his main priority. 9) Has been approached from third parties to take equity positions, but is not interested at this time. He said family, friends, and shareholders will get first dibs.
10) Keystone was traditionally a copper mine, but has gold. Congress is purely a gold mine. Expect to see some silver or copper in the gold that is sold from Keystone.
11) Canadian technology will be used at the keystone mine and will allow the company to extract between 80-90 percent of all gold from the tailings. That is more than average. I think he said average was 60-70 percent.
12) Joel has a goal of 2.6 billion 0/s by december with a total goal of all o/s at 500 million shares in the end. No reverse split will occur. He also stated that there will be monthly filings for each location when revenue hits.
These are my notes, please feel free to add anything.
