If your IN, Your IN
IMHO, It is time for this deal to get done. Volume suggests the same. The SP is still meaningless and the facts are lining-up for some conclusion with-in a short period (Don't bother to reply about all the next weeks). I think it is this year for the following reasons:
1. Management has told us there is a deal on the table (2-24-10)
2. Management tells us that several well-known Intl mining companies have expressed interest in the deal (5-4-10 Q&A)
3. Management tells us that a preferred partner has been selected and a memoradium of intent documents were prepared but no completion date was made. (7-30-10 Q&A)
4. Management submits application and receives approval to Edgar reporting system, additional consideration regarding compliance with Sarbanes-Oxley and FAST system of electronic transferring of shares are being discussed (9-10-10 Q&A)
5. JJ summarizes the JV and contract process to help explain the complexities of what the company is attempting. (9-10-10 Q&A)
6. Management informs us that in late September, an "Intended Venture Agreement was signed by JJ alongs with other documents and schedules. In October, a meeting was held in Miami with parties to the agreements, amendments were presented by JJ to the existing agreement and agreed to by the other parties and are being incorporated in final JV agreement. (11-2-10 Q&A)
7. The prices of gold has continued to climb 23.24%, copper 36% and silver 64.93% over this period of time.
We are now a little over 30 days beyond the last Q&A and within a reasonable time frame for completion of the process outlined under number 5 Q&A. While the process has been prolonged beyond our expectations, management has attempted on a regular basis to keep us informed that the process continues and no adverse situation have occurred to terminate the work completed to date (all while under a strict NDA).
If the JV agreement is not completed by the end of the year, then IMHO I would expect that a new Q&A will be made with additional information for us to consider, and will help everyone in determining if they want to continue to hold this investment. The time table is such that what we are looking at is a final determination prior to the end of the first quarter 2011. It is all or nothing at that point. The Momo, Chewy, Miningman, coalition will be vindicated IMHO if we reach April without everything completed. I believe we will have definative information FROM THE COMPANY before then.
The SP does not matter if you take these facts, without emotion, and based on other DD information regarding the main asset of the company. Each individual must make their own investment decision. This board clearly reflects, the ones that believe and those that are more sceptical. My suggestion is don't buy into either side, read, research and then place your bet at a level with the understanding this is a high risk investment.
AI
