More from Stone resources Annual Report:
"The Group received approval ..for its application for the "Ben Hur Mining Proposal and the "Mine Closure Plan"...
BRIGHTSTAR GOLD TREATMENT FACILITY
The Treatment Facility has remained in a "care and maintenance" phase since September 2012. As a consequence, continued its cost reduction program by closing the camp, maintaining minimal site employees, improving security surveillance, negotiated a reduction of remuneration with most employees and eight employees were made redundant.
The net loss of the company was reduced to $5,211,961 DOWN from $12,976,211 in 2014.
OMG MHM wants to throw $18 million (most of which it doesn't have) into this--- this sounds really, really dumb. A bit like BSM and its adventure in a gold processing plant in Tasmania.
$18 million dollar farm-in by MHM to the only asset of a company worth a Market Capitalisation of just over $2 million (albeit bankrupt with 20 million dollar capital deficiency.....). Someone with superior accounting skills tell me what I am missing??????????????
Ann: Trading Halt, page-17
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