Look, I'm a suspicious a-hole. It's what I do for a living. That being said, this is my opinion only...
Looks to ME like they tried to cover up gross negligence on the part of Gustavson and co, hiding reality - or hiding from - every step of the way to try to get this thing to work. Kinda like when you're dating an absolute psycho and still love her and want to make it work.
Or, just MY opinion, this mine will actually work. Or the property next door will work, or a property within reasonable transport distance will work well and be profitable. And they will cloward-pliven the place. Nutshell? crash it intentionally in order to rebuild it the way you want it. with no shareholders other than the complicit investors and management.
That's only MY opinion. Either they screwed us thru extreme incompetence on several levels, or they stole it from us on a slick move. But, that's just my opinion, and not worth the close to 100K shares I hold. And those aren't worth anything more than the turd the cat just left in the litterbox.
We got porked. But, we stood to make a killing, and I'm ok with that. Not the first time I went to the casino and put it all on black, and not the first time it came in red. Won't be the last either.