FWIW, my take on the 10k is quite simple. They have stripped away all of the fluff to present a more cautious and risk aware presentation of the real status of the company. Gone are the grandiose statements of huge claims that hold unforseen riches waiting to be explored. There is a sober admission that the claims came up flat. Furthermore, the grand mystery of the sand is finally explained as well as the recovered gold and that never was declared. As we had all suspected but couldn't quite convince the resident goons, said assets were traded to offset operation expenses. Now we know.
I get an overwhelming sense that SNEY is done with selling shares (~300M/yr) to support the company. Clearly, this 10k was not written to entice new share holders. Rather, it was intended to set realistic objectives and properly quantified risks. I believe this is evidence that they are transitioning away from selling paper to selling product and will be profitable in the near term.
The icing on the cake is the confirmation of the recent PRs. This should go along way to re-establishing credibility.
JMHO
