Mining Scam Warning Signs and Red Flags: How many of these do we see here with USPR?
Claims that the mining can only be done using new, “proprietary” methods. While its true advancements in mining have been and continue to be made; new, proprietary methods don’t usually yield much if anything at all. Plasmafication - nuff' said!
Drilling has begun, yet is slow going as only one or two drills are in use. When significant, legitimate deposits are found, mining companies usually put as much equipment on the suspected deposit as possible. It’s important to get the permits and mine as much as you can as quickly as you can. Experienced miners know that actual, cost effective production, along with reserves for future mining will result in reasonable stock prices. A one-sentence announcement of drilling in the 10Q?
Metals from the platinum group (Platinum, Palladium, Ruthenium, Osmium and Iridium) are said to be showing up in the assays. These metals are particularly rare and don’t usually exist in commercial quantities. Haven't seen this yet, but give it time....
Even though the company claims it’s done little to no drilling, suspected deposits or “reserves” are described in the millions or even tens of millions of ounces. Before reserves of this size can be confirmed with any degree of confidence, hundreds of drill holes with thousands of assays must be completed first. Billions worth of minerals in the ground.....a poster heard on a radio show!
Actual drilling is ongoing but is slow with one or two drill rigs. If a major new ore deposit is suspected by a legitimate company, there is significant incentive to get the drilling done as soon as possible so mine permitting and actual mining can begin. They will use as many drill rigs as they can get their hands on. The primary incentive is to produce gold, not sell more stock at a higher price. Legitimate operators know that real, cost effective gold production, together with ore reserves for future mining will result in satisfactory stock prices. Again, a one-sentence statement in a 10Q about drilling? Surely, drilling deserves something more substantial than that, or maybe there is no drilling?
AI
