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Alto Ventures Ltd.: Alto-Wescan Finalize Drill Contract for Mud Lake Project, Beardmore-Geraldton Gold Belt

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Message: Too quiet-No News!

Hi Jeannie

Yes they made a deal to get 1.3CD from FDN in cash and 10 million shares in FDN.

I mentioned in my post of 29 Sept 2011 that from the financials they had a 3 monthly loss of $500,000 C$ approx . So on a simplistic calculation (depends on "burn rate") they have about 9 months for this money to last. It may be way off the mark, but if they are busy on Oxford Lake and Miner Lake the money will go!! They need a very good NR to get the SP up so they will have a chance of raising cash on good terms next year maybe. That't the way I see it please correct me if wrong!!

All the best

Spookey

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