Numerous inquiries from our new and expanding shareholder base regarding our projected timeline to profitability have been received and we thank you for your confidence as we develop a new and profitable venture in Colorado. Our projected timeline & milestones for 2013 are:
September, 2007: The Company purchases Mill for $1.4 million. Company has re-paid
$975,000, with $425,000 outstanding, secured by a first mortgage.
October, 2009: Work commenced on amendment to the existing reclamation permit,
No. M-1984-049, granted in 1984 by the State of Colorado Division of Minerals and Geology.
June, 2010: Company submits comprehensive permit amendment to the Colorado Division of
Reclamation, Mining, and Safety
July, 2010: Company receives custom toll milling preliminary purchase orders from 5 mining
companies in the amount of $9.2 million
December, 2010: Company presents amendment to the Colorado Mined Land Reclamation
Board. The facilities portion of the amendment was approved, along with the provision for
custom/toll milling. The tailings pond rehabilitation plan awaits approval.
January, 2011: Company develops new approach for the treatment of tailings;
Dry Stack Repository and the reclamation of existing tailings ponds.
June, 2011: Company receives approval for reclamation plan from Colorado Division of
Reclamation, Mining & Safety for the existing tailings ponds, and the Division granted
approval for geotechnical drilling and analysis at the Dry Stack Repository site.
June, 2011: Company satisfies $200,000 financial warranty increase and provides a total $515,000
in financial warranty to the State of Colorado.
July, 2011: Company commences work to reclaim the tailings ponds and revise the permit
amendment for submission to the Division, including: closure of test pits, relocation of historic
mine waste, and surveying of new containment areas.
January, 2012: Company places Amendment No. 3 of the existing reclamation permit M-
1984-049, containing the Dry Stack Repository design, in final engineering for submission to
August, 2012: Final approval of the amended permit by the Colorado Mined Land
Winter, 2012: Interior rehabilitation continues through the winter months, including
electrical, ventilation, equipment certification, and chemical reagent preparation
April, 2013: Construction of tailings repository
July, 2013: Certification of tailings repository site by the Colorado Division of Reclamation,
Mining & Safety
August, 2013: Production processing begins
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