I have scanned the notice. It appears to have been issued as the first step in a prescribed SEC process whereby the company has given notice that it intends to raise money to a maximum amount of $250 million without specifying the timing, the amounts of individual offerings ot the nature of those offerings, whether debt or equity. It appears that the company is asking the SEC to bless the amount while the SEC will require the company to be more specific when it issues a prospectus for a specific offering in the future. AUM says that future cash flow will not be sufficient to finance their planned capital projects in Mexico and other locations so additional funds will be needed. The company is already authorized to issue 100 million common shares and 10 million preferred shares so there is plenty of room for additional offerings.

It appears that any company applying to the SEC for authorization to raise money must provide the reader with detailed descriptions of the potential business risks it faces. AUM has done a thorough job in this document of describing a long list of potential business, political, technical, geological, financial, environmental and other risks that could prove quite discouraging to anyone who was considering investing in this medium sized mining company. Presumably the SEC had some input into this detailed language.

I am hoping that this document can be viewed as simply the first step in a process that will see AUM raise the funding that will allow the company to grow and prosper - an admission that its internal resources will not be sufficient to allow it to capitalize on all of the profitable opportunities it sees in its inventory of mining properties