Gold Mining USA Blog Presidents Letter

I want to give you, as a GMUI shareholder, a mid-year report as to our recent progress.Over the past year we've endured a variety of challenging circumstances that I know have caused shareholder concerns. Ultimately, our focus is on increasing both book value and a return on investment for you as a shareholder.Our Team has taken pause and formulated a long term strategy for enhancing your value in the world of minerals rather than the past experience of reacting to short term opportunities rife with unjustifiable risks. We are willing to cut loose from projects that have proven to be unfavourable and unprofitable.We have also performed a deep financial status review and during the first and second quarter of 2016 GMUI satisfied in its entirety one of the debt notes on the financial statements by way of conversion to shares which created a certain dilution but we believe strengthened our long term position.Part of our renewed commitment to strengthen the balance sheet is to maximize exploration efforts in our existing properties, as well as continue to identify and assess high value properties in North America for acquisition.One of our current efforts in your behalf is exploration on the Gypsy mine site guided by historical data and documentation. Concurrently, facilitated by the North American Geo-team we are aggressively pursuing acquisition of additional properties of greater value.In the fundamentals of administration GMUI is creating a more reliable and viable audit sequence. Over recent months we've organized existing data and created a trail and record of historical information for accurate assessment and audit by Pinchet, Sharp & Hardy (Cutler & Associates LLC.).While there is still progress to be made we've made substantive progress in each of these areas.Further, we are now engaged in a more dynamic daily network and communication flow that interconnects our teams more effectively sharing knowledge of daily activities. This has our leadership teams, third party service providers, and consultants interactively contributing innovative solutions and dramatically expediting operational due diligence phases on prospective projects maintaining real-time oversight of our existing projects. More effective decisions are achieved faster, and proactive best practices are streamlined and implemented.I want to invite you to review the management team bios on our website to understand who is working for you, our shareholder.In closing, I sincerely thank you as a shareholder and each party that has made contributions to GMUI as we further evolve the items mentioned herein (and much more not noted) to a higher status for the greater good of all. While it has been a challenge over recent months, I promise you that we work hard every day to return to and exceed the shareholder value of the past.Sincerely,Maurice Byrne