9lt98x, consider this.
If the dry stacking is subject to approval, then the purchase of the land most probably is subject to that approval too. I know that if I were in CGFI's position, I wouldn't spend any money on land before I was sure it would be needed. A simple down payment, or retainer, would hold the land and the purchase could be made contingent on the final approval of the dry stacking plan. Deals like this happen all the time, especially in real estate. Why buy the land now when your not sure if the plan is 100% approved? With all the hoops CGFI has had to jump through, this would be the wise move. I doubt there are many buyers lining up to buy open land in rural Colorado.
The management of CGFI has proven to be a frugal bunch up to this point. I wouldn't expect them to suddenly change that characteristic. I trust these guys; that's why I bought my little investment in their company. I think your looking for the wrong indicators for success.
The permit for POW mill is the key.
JMHO. GLTY.
