Question-and-Answer Session
Operator
(Operator Instructions). Our first question comes from David Snow with Energy Equities. Please state your question.
David Snow - Energy Equities
Yes. Hi Dave, first of all I have some potential sources for financing if you do decide to go forward with the mill and I would love to catch up with you offline to go over those and see if they would fit with the company’s profile. Could I catch up afterwards or some time in the near term?
Dave Clark
You could do that. Best way obviously is to get hold me and I should there be, I think that sounds best.
David Snow - Energy Equities
Al right.
Dave Clark
But thank you for the comment.
David Snow - Energy Equities
Okay. And then, I am trying to just look at the annual report. Apparently the water rights are contestable by the Navajos. Is that going to be jeopardizing the company's long ballyhooed as strength of having water rights? It sound like it will come under their preview if I am reading the page 15 of the annual report growth?
Dave Clark
Are you talking about water rights for RAML acquisition?
David Snow - Energy Equities
No, generally it appears that they can contest the state engineers granting a water rights and jurisdiction over the water rights and it becomes an issue in New Mexico when an Indian nation objects to the State Engineer’s authority, and brings it to tribal jurisdiction. Does that potentially put all of your water rights in play with the Navajo issue?
Dave Clark
I am not well versed on that issue, though I do know that there is negotiation going on between the state and Navajo Nation over water rights and it primarily refers to the observation itself. We know that it's ongoing, and we monitor that. We don't, at this point, think there is any risk for the water rights we have.
David Snow - Energy Equities
Okay. And, I'm wondering also the expenses definition the EPA adopted is potentially affecting up to 84% of your properties, I guess which one is not effective, read the easiest right asset question.
Dave Clark
That 84% really refers to, if you take restrictive definition of Indian country, as proposed, and all our properties have varying shape degrees. So it is the worst case scenario when opening the same standards that applied everything we have towards the worst case scenario. The properties we have in Ambrosia Lake, the Roca Honda, the Ambrosia Lake ISR properties and again the other projects that we have, have different issues versus what we are dealing with the Church Rock.
- To read the full transcript on Seeking Alpha, click here »
