Read the Last Q report - they have 23ok cash and burn more on well not sure every Quarter. The $200 could bank rupt them, Terrain will take the asset back one would assume if they want it its not very good IMO - How do they get away with only reporting it as JORC 2004 Me things if it was converted to JORC code 2012 all the ounces would disapear.
The main diferance between JORC 2004 and 2012 is in 2012 the ounces have to be minable big differance people. the deposit has a strip ration of 28 to 1 I have been told - So low grade very deep down dirt cant work - its not economic.
The JV is a lot or rubbish I think it will not get singed off on, lets see I might be wrong. I would hope so for shareholders
Ann: Update on Outstanding $200,000 Convertible Note, page-3
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