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These excerpts taken from the TIV 10-K filed Apr 2, 2009. Our industrial mineral operations have not yet begun to realize significant revenue.
Select was formed in late 2004. We realized no significant revenue from our investment in Select to date, and we cannot predict when, if ever, we may begin to see significant returns from these mining investments. Our industrial mineral operations have not yet begun to realize significant revenue. Select was formed in late 2004. We realized no significant revenue from our investment in Select to date, and we cannot predict when, if ever, we may begin to see significant returns from these mining investments. These excerpts taken from the TIV 10-K filed Mar 30, 2009. Our industrial mineral operations have not yet begun to realize significant revenue.
Select was formed in late 2004. We realized no significant revenue from our investment in Select to date, and we cannot predict when, if ever, we may begin to see significant returns from these mining investments. Our industrial mineral operations have not yet begun to realize significant revenue. Select was formed in late 2004. We realized no significant revenue from our investment in Select to date, and we cannot predict when, if ever, we may begin to see significant returns from these mining investments. These excerpts taken from the TIV 10-K filed Mar 14, 2008. Our industrial mineral operations
have not yet begun to realize significant revenue.
Select
was formed in late 2004. We realized no significant revenue from our
investment in Select to date, and we cannot predict when, if ever, we may begin
to see significant returns from these mining investments.
Our
mining operations may not be profitable.
The
economic value of mining operations may be adversely affected by:
Declines
or changes in demand;
Declines
in the market price of the various metals or minerals;
Increased
production or capital costs;
Increasing
environmental and/or permitting requirements and government
regulations;
Reduction
in the grade or tonnage of the deposit;
Increase
in the dilution of the ore;
Reduced
recovery rates;
Delays in
new project development;
New,
lower cost competitors;
Reductions
in reserves; and
Write-downs
of asset values.
We
have no employees dedicated to our minerals segment and would require additional
staff to develop these properties.
During
2007, our staff at Select resigned, and we have no employees currently dedicated
full time to managing or developing our mineral properties. Any
substantial development of any of these properties would require that we hire
new staff to oversee them. We cannot be sure that we can find
qualified people to manage this business segment, or that we could hire such
people at affordable prices.
Our
operations may be adversely affected by risks and hazards associated with the
mining industry that may not be fully covered by insurance.
Our
business is subject to a number of risks and hazards including:
• Environmental
hazards;
• Industrial
accidents;
• Unusual
or unexpected geologic formations; and
Such
risks could result in:
• Personal
injury or fatalities;
• Damage
to or destruction of mineral properties or producing facilities;
• Environmental
damage; and
• Delays
in exploration, development or mining.
For some
of these risks, we maintain insurance to protect against these losses at levels
consistent with our historical experience, industry practice and circumstances
surrounding each identified risk. Insurance against environmental risks is
generally either unavailable or, we believe, too expensive for us, and,
therefore, we do not maintain environmental insurance. Occurrence of events for
which we are not insured may affect our cash flow and overall
profitability.
Risks
Involved in Our Operations Generally
Forward
Looking Statements
Some of
the information in this 10-K contains forward-looking statements that involve
substantial risks and uncertainties. You can identify these statements by
forward-looking words such as “may,” “will,” “expect,” “anticipate,” “believe,”
“estimate” and “continue,” or similar words. You should read statements that
contain these words carefully because they:
• discuss
our future expectations;
• contain
projections of our future results of operations or of our financial condition;
and
• state
other “forward-looking” information.
We
believe it is important to communicate our expectations. However, there may be
events in the future that we are not able to accurately predict and/or over
which we have no control. The risk factors listed in this section, other risk
factors about which we may not be aware, as well as any cautionary language in
this prospectus, provide examples of risks, uncertainties and events that may
cause our actual results to differ materially from the expectations we describe
in our forward-looking statements. You should be aware that the occurrence of
the events described in these risk factors could have an adverse effect on our
business, results of operations and financial condition.
Our industrial mineral operations have not yet begun to realize significant revenue. Select was formed in late 2004. We realized no significant revenue from our investment in Select to date, and we cannot predict when, if ever, we may begin to see significant returns from these mining investments. Our mining operations may not be profitable. The economic value of mining operations may be adversely affected by: Declines or changes in demand; Declines in the market price of the various metals or minerals; Increased production or capital costs; Increasing environmental and/or permitting requirements and government regulations; Reduction in the grade or tonnage of the deposit; Increase in the dilution of the ore; Reduced recovery rates; Delays in new project development; New, lower cost competitors; Reductions in reserves; and Write-downs of asset values. We have no employees dedicated to our minerals segment and would require additional staff to develop these properties. During 2007, our staff at Select resigned, and we have no employees currently dedicated full time to managing or developing our mineral properties. Any substantial development of any of these properties would require that we hire new staff to oversee them. We cannot be sure that we can find qualified people to manage this business segment, or that we could hire such people at affordable prices. Our operations may be adversely affected by risks and hazards associated with the mining industry that may not be fully covered by insurance. Our business is subject to a number of risks and hazards including: • Environmental hazards; • Industrial accidents; • Unusual or unexpected geologic formations; and
Such risks could result in: • Personal injury or fatalities; • Damage to or destruction of mineral properties or producing facilities; • Environmental damage; and • Delays in exploration, development or mining. For some of these risks, we maintain insurance to protect against these losses at levels consistent with our historical experience, industry practice and circumstances surrounding each identified risk. Insurance against environmental risks is generally either unavailable or, we believe, too expensive for us, and, therefore, we do not maintain environmental insurance. Occurrence of events for which we are not insured may affect our cash flow and overall profitability. Risks Involved in Our Operations Generally Forward Looking Statements Some of the information in this 10-K contains forward-looking statements that involve substantial risks and uncertainties. You can identify these statements by forward-looking words such as “may,” “will,” “expect,” “anticipate,” “believe,” “estimate” and “continue,” or similar words. You should read statements that contain these words carefully because they: • discuss our future expectations; • contain projections of our future results of operations or of our financial condition; and • state other “forward-looking” information. We believe it is important to communicate our expectations. However, there may be events in the future that we are not able to accurately predict and/or over which we have no control. The risk factors listed in this section, other risk factors about which we may not be aware, as well as any cautionary language in this prospectus, provide examples of risks, uncertainties and events that may cause our actual results to differ materially from the expectations we describe in our forward-looking statements. You should be aware that the occurrence of the events described in these risk factors could have an adverse effect on our business, results of operations and financial condition. This excerpt taken from the TIV 10-K filed Nov 13, 2007. Our industrial mineral operations have not yet begun to realize significant revenue.
Select was formed in late 2004. Beginning in 2005, we invested a significant amount of capital in Select to enter into a joint venture, Tri-Western Resources, LLC, for the development and operation of industrial minerals deposits near Bakersfield, California and to acquire a calcium carbonate mine near Ketchikan, Alaska. We realized no significant revenue from our investment in Select or Tri-Western to date, and we cannot predict when, if ever, we may begin to see significant returns from these mining investments. In late 2006 we sold our interest in Tri-Western.
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