The company was incorporated in 1984. It is a Canadian based company with its subsidiaries conducting gold mining operations in Venezuela. During 2006 the company produced gold from three deposits on the Tomi concession and from an open pit mine on the La Victoria concession. It also has interests in the Las Christinas property.

For the second quarter ended June 30, 2007 the company reported revenue of $4.9 million. This was almost 11% less than revenue generated for the same period a year ago. Also the net loss has increased by nearly 40% to $-11.6 million comparing on the same basis. Since December of 2006 the shareholders equity has...