I 100% agree with you on these points, though, not with your baseline assumption of fraud and your years-gone displayed motivation to take down any otc mining stock anyone sees fit to promote bullishly on this platform.
The company should address these points thoroughly, in writing, and qualify them under a PG/QP title. They have in some sense verbally at the recent shareholders meeting, which wasn't even meant to be recorded nor reproduced at first. They, during that meeting, explained why they don't believe drilling is worth it for instance, though they didnt expand upon why their sampling efforts to quantify what they have would be done to such a limited degree. These should be ongoing, and for all we know they are, but I agree 100% that 1 x 50 lb sample to quantify such a massive amount of ore is one hell of a judgement call.
I brought up some of these points myself in email (like the question of proving out their assets further and the question of why no feasibility study before investing millions in equipment) multiple times over the years and had been ignored outright, or left for someone other than the company to rationalize on their behalf (like under what circumstance would they pursue SEC reporting status.) I reserve prejudice when I speak on these subjects. I am an investor, not their IR guy, and nor is anybody else on these platforms. To their credit, Sean the CEO has become more active on Twitter, but something about his approach of validating the hype, strikes me as a little too classic otc if you know what I mean. I would rather see accredited expertise qualify statements instead of reposts of investors wide-eyeing through their DD.
The answers I did get, shared a common theme. They all came down to cost and a commitment to not dilute shareholders unnecessarily. I appreciate this, as buyer interest is maintained during the onset of revenues, but an aspect of this doesn't make sense to me too. If we are valuing these stockpiles in such extraordinary dollar values, why is the cost to prove them out treated as so prohibitive? Shouldnt they pursue bankability at least for finance purposes? The company has been operating these sites for so many years now, why the urgency to production like it's now or never? Also, why promise such a heavy dividend during a time when all in cost is so unclear?
You get paid for the risk you take, that's all I'm going to say.
