Raptor Resources Holdings,Inc. (fka RRHI)

[pitboss22]

Another independent opinion.....

First, the "size" of the deposit has not been defined by drilling - just a magnetic survey. That means nothing - the only scientifically (and legally) acceptable method to define a resource (and, eventually, reserves) is drilling. From the Company's statements, they are not even at the drill stage. They are still in early exploration which should lead to, perhaps, defining drill targets. They are a long, long, long, long, long way from a real feasibility study.

There are not many barite mines out there, but as an example, look at Kent Exploration. They just started mining an old closed barite mine in Washington State. The deposit was originally defined by 203 drill holes totaling almost 20,000 feet of drilling. The deposit was mined from 1981 to 1984, which obviously gave them a huge leg up in terms of exploration and development as most of the work had already been done. Kent acquired the project in 2006, applied for a mining permit in 2008, and was finally able to begin mining in 2012. 6 years! And that was for a property where the majority of the work (and costs) had already been done before they acquired it, but the Company still spent about $1 million over the 6 years on confirmation drilling, bulk testing, process testing, and related costs. And now that they are actually mining barite, the stock is trading for 2.5 cents a share. With a total market cap of about $2 million, which also includes their other projects, of course, and about $1 million in shares of a publicly traded subsidiary. In other words, the market is valuing their barite operation at pretty much zero. Or less.

Needless to say, it is highly unlikely that anyone would commit to anything before a resource had even been defined, much less before the mine was being built. And, even if there was, an MOU is meaningless.