The problem Lumberg is that William has nothing to
Post# of 958
The problem Lumberg is that William has nothing to work with. MMTE is broke and on his other play (TTXP) he purchased a 20% interest in mine production. But the mine has no production. Lazerson was apparently promised this 2.5 million dollar pump campaign as a way of paying for a NI43-101 resource study and the 20% production share. But, right now the pump is not producing the cash he hoped for, at least not yet. Even if money could be raised for the resource study (we are talking thousands and thousands of dollars) it will take time to complete (very likely a full year). And, that is just the first step in a very long process. TTXP is likely to become a dilution machine --- even worse than MMTE was. And, did I mention that TTXP is already millions of dollars in debt?
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