The facts are this is a non-producing mining operation, with nothing more than a few drill holes. Before it can be determined if they can be a profitable operation it will take $10s of millions of dollars worth of additional core samples. Then they will need an additional $10s of millions of dollars for a bankable feasibility study. After drilling and producing a study they will need to pull together a $1-$2Billion dollar financing package of both debt and equity funding for construction based on the feasibility study. If determined to be feasible this company is approximately $100 million dollars and several years away from production.
My opinion is that the ore grades for both gold and silver to date are less than impressive, and I doubt they will be able to show profitability as it sits today. Additional drilling may turn that around, but with todays data it looks bleak. That’s probably why they are selling off assets. They have to pay those executive salaries as long as they can.
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