What an outstanding announcement The funding relating to the...

What an outstanding announcement

The funding relating to the acquisition of San Santiago has been completed with Silver Stream showing their commitment to Minera by advancing the second tranche payment under the original gold stream deal (the milestone being 2 consecutive months of 1000 ozs per month (announced 8th April)) of US$1.4million. This is in addition to the other U$3 million that was committed to this acquisition already (announced 11th August). The balance of US$1.1million having been committed by an existing shareholder through a combination of convertible debt ($500k) and straight debt ($600k).

Gold shipments have begun albeit there looks like there were a few teething issues relating to power but is now on track and I would imagine SilverStream wouldn’t have waived their milestones if they weren’t happy with how things are now running down there.

MIZ is now really set up to go the next level. Already producing Gold (now with no lease costs) and soon to be Copper. Remember looking back at page 15 of the last presentation released on August 12th, it states that the exisitng private owner was generating $180k/month in free cash from toll milling alone through the Copper Sulfide circuit. The upside is that MIZ will not just toll treat, it will mine itself with an idle Cu oxide circuit to be brought back online.

MIZ has basically gone from renting a room to buying the house,

Another big tick in the turn around story and another example of delivering on what was said.

DYOR