All, being an Environmental Engineer and overseeing Geological Data in developing oil and gas fields around the world, this is why I asked to see the rest of the data stream (what was posted was incomplete). Gold mining companies are pretty straight forward and they'll admit they dont solely rely on gold in their mineral sales. Pretty standard in the industry.
This is also why I asked if they had a "Development Plan." If they had found anything, the first thing that would have been produced for agreement with all the authorities, would have been a Development Plan (also standard in the industry). This plan would have had to been agreed with the local, state and federal governments, as well as been addressed in town hall sessions ("Pubic Consultations").
If anything is to go forward with ANY mining company, especially a new development, its a rigorous process that takes years. If anything would have been found (especially in today's economy), this would have also been on a political agenda and in the news.
This is why many "mining companies" purchase older mines that are already permitted and grandfathered. But even with this said, many also require rights agreements, royalties and such to be renegotiated if an expansion is to happen. This also becomes very high profile due to the politics. The process is also reigerous and takes a lot of time to update-redo documentation and such. In all cases, there are scheduled "NPV" requirements in the investment process that must be made public and put under the public eye (blue chip accounting firms getting involved, where public royalties are involved and considered). Transparancy is a natural product in this process, as the state and federal government are involved.
As I said before, there are publications out there, such as "Geology for Dummies." Many states publish their regulatory processes online, so the information is available. Truthfully, I did what others did and followed the PR's, instead of following even my own profession. Had I did this, no way I would have invested.
Cheers...on my way to Kazakhstan
