Big Al asked Bill and Ira, from Rye Patch Gold about the question of selling the Florida Canyon Mine and here is the answer.
Guys, greetings from PDAC.
The board created the special committee to look at financing opportunities, not to sell. As Florida Canyon continues to move forward with positive cash flow from the mine, the goal is to start developing Lincoln Hill, and ultimately the other properties along the trend. But the way the debt is configured, revenue will go directly to servicing debt.
There has to be a change in the debt configuration and that is what the committee is looking at.
We have come to far to just walk away! We have hired Doug Jones as COO to help move the operations forward and continue the optimization of Florida Canyon.
Our goals are clear and we are doing everything to move forward. There’s also a new presentation on the website for you to look at.
This all comes from Bill by the way as he asked me to respond directly to you.
Hope this helps.