From Mr. Strang Audio Presentation on Scotia Bank “Mining Conference”:
Question: “What’s about the deal with SALTA Explorations next door? Is it to chase ore or space for insfratructure?”
Answer: There is no “deal” with Salta – Lumina is a shareholder in a Joint company that owns two claims next door. This is not Salta but it is the other shareholder (note: no mention of his name). The owners of those two claims are required under argentian law to make investments in order to maintain them.
Question: “But is is to search for more ore or …?”
Answer: We are exploring those projects / two areas right now. Nothing more to add (note: at this stage?) - This is the situation as it is…
- The JV is with Salta; there is no other shareholder! It is well probable that the JV discussions were held exclusively with Cascadero and that Mr. Strang was not referring to the Corporate Structure, the Cascadero’s 50% owned Argentian Portfolio.
- Why Mr. Strang does not mention the name of Cascadero? – The law of secrecy remains (please refer to Midas posts on this regard)
- I suppose we have to read between the lines… Something could be under way…
Please bear in mInd that only 25% of any “revenues” (if any) generated directly of indirectly from the 50% JV with Lumina will come back to Cascadero (since only 50% of the Argentian Claims is "belonging" to Cascadero) AND that the JV with Lumina relates to only part of Cascadero's potential. However, this JV could be a turning point for Cascadero.
Finally, I hope that others took into consideration the oustanding post of mewbuddy http://www.stockhouse.com/bullboards/messagedetail.aspx?p=0&m=31839094&l=0&r=0&s=CCD&t=LIST#c4xWkmIaEzeftkhe.99
For the audio – Registration required on http://www.gbm.scotiabank.com/ – Section Conferences – “Mining Conference” – November 29th 2012 ).