You're right, certainly, it is frustrating to see them miss timeline after timeline. I've gotten on them for this and reminded them that the unfortunate sentiment of investors right now is that no news is bad news. I'm just telling you what I've been told, I'm not trying to make excuses for them.
Jimmy told me that my fears and concerns will start unraveling in a positive way from this week moving forward. Here are some key takeaways I have been able to get:
1) Once what they have been working on starts having positive effects, there will be no need for further dilution.
2) Clarity will be more evident starting next week. There is a 10 year plan and a means of financing things without using toxic methods.
3) The immediate focus of the company is getting their mill up and running. I know a couple things about the mill. a) It's a modular type of design, like a set of legos, parts can be changed/swapped very quickly and cheaply and b) it's an extremely flexible design and cheaper to operate. The technology they have access to through G8MI is their competitive advantage. It allows them to process ores that have lower concentrates while other small mining companies cannot do so profitably.
4) There are mines all over the place in Nevada, but efficient means of processing the ore is limited. The plan as I can see it is to evaluate all the available mines in the area, pick the best options, lease them, extract ore, process, pay a royalty, and move on to the next one. They kind of remind me of locust.
5) I think we should all be prepared for Fencemaker and Arabia not being the first mines that are online. While Fencemaker is a good property, they've already given us a lot of hints about it potentially not being their primary source at first. I get the impression that it's going to require more money to make Fencemaker profitable, and right now there are cheaper and quicker sources of better ore.
