team is asking people to upload their own screams on video to YouTube, and a selection will be sent into space aboard the satellite later this year.
The Agreement provides that the exercise of the Earn-in Right by Invecture is conditional upon, among other things: (i) receipt of the CUSF
and the Authorization of Environmental Impact; (ii) the completion of a feasibility report on the Concordia gold project which updates the existing feasibility report with respect to costs; (iii) Invecture funding the Concordia gold project during the Earn-in Period; and (iv) Invecture making an additional payment of US$20.
All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as, the resolution of permitting matters at the Paredones Amarillos gold project, the Corporation's strategy for advancement of the permitting process for the Paredones Amarillos gold project, the expected timeframe for the refiling of the CUSF
application, the continuation of the advancement of the Paredones Amarillos gold project, the timing for commencement of construction, development and production for the Paredones Amarillos gold project, the potential to enhance the project economics of the Mt.
As a result of the delay in the issuance of the CUSF at the Paredones Amarillos gold project and the current uncertainty in the financial markets, management has adopted a revised plan and budget for the year 2010.
These may includeequity or debt financing, re-negotiation of the terms of the Notes or, if the CUSF is received shortly, raising the required funds as part of the project financing for the Paredones Amarillos gold project development.
In addition, while not formally the basis for SEMARNAT's dismissal, SEMARNAT communicated what it believes are additional issues with the Company's CUSF application, which SEMARNAT stated it was not able to resolve due to a lack of information, including:
SEMARNAT's refusal to recognize the validity of the Temporary Occupation Permits granted to MPA by the Mexican General Direction of Mines, which are a pre-requisite to filing for a CUSF, on the basis that the project is located in an environmentally protected area over which the Mexican General Direction of Mines does not have jurisdiction;
MPA's failure to obtain an official communication from the Mexican Natural Protected Areas Commission ("CONANP") acknowledging CONANP's conformity with MPA's application for the CUSF.
The law regulating CUSF
applications has changed since the original permit was awarded and the key issue is that a higher standard is now applied to applicants regarding the legal tenancy of the surface.