The following is an example of what we 'USPR' are going thru right now....
The Gold Report Interview with Eric Coffin (5/14/15)
"Columbus Gold Corp. put out a new resource estimate on its flagship Paul Isnard gold project in French Guiana. It didn't have a huge impact but it brought the grade up to 1.44 g/t in a 4.5 Moz resource, and moved about 75% of that resource from the Inferred to the Indicated category. That's important because if a company is doing feasibility-level studies, the engineers can't configure anything below Indicated. All of that Inferred material may be quite real and eventually become part of a mine but it can't be included in a feasibility study. I expect Columbus to put out a PEA in less than a month. . .Columbus has an option agreement on Paul Isnard with Nordgold, a successful, mid-sized Russian gold miner. In order to get 50.01%, Nordgold has to bring Paul Isnard to feasibility and spend $30M. It will probably spend $30M to finish the feasibility study, but once that's done there is a fairly complex formula to determine who pays what; Columbus could end up with as much as a 20–30% carried interest. If the feasibility economics are strong enough, I wouldn't be shocked to see Nordgold make an offer to buy Columbus. That may turn out to a cheaper option for Nord if it wants 100% of Paul Isnard. Columbus certainly has a lot of projects in Nevada and management wants to option some of them, but it has raised money and is waiting on drill permits for a large, yearlong drill program on its Eastside property in Nevada. Andy Wallace, a former director, stepped aside to run that drill campaign. He is credited with the discovery of several gold deposits there. He obviously rates Eastside very highly
