Reason to buy: Besides this being an OTCQB co on the OTCBB, in this market you have to look for things w upcoming catalysts such as the upcoming imminent MPO permit-the largest permit-everything else then usually follows.
For those who dont know imminent means there are no expected intervening events-that the event in question is the next event to occur
This is whats important re this project- Todd the lead BLM person on the project personally told a newspaper the MPO permit was very close to approval-and that other permits would follow and be easier because those other permits are largely answered via the MPO permit process-
so this info provides a powerful operational and market push when the MPO is approved which opens the floodgates for other upcoming catalysts
its like knowing when a promo is coming-only this isnt a promo-its the real thing-all the hullabaloo about other issues is designed to remove attention from these coming events
FACT-this is my EXPERIENCE based on my boots on the ground in the land use planning wars-posting past finances for sirg is totally irrelevant to the permit process-developers cobble finances until permits and then their investors kick in after the permits are done. This process is what is relevant
FACTIn my land use planning experience developers dont begin the permitting process until they have long term financing partner(s) lined up.
Even if u had no experience with the process u would know this is commonsense because the permitting process can be long and time consuming.
FACT:The process is almost always successful because the permitting jurisdictions are in favor of the fees they earn directly from the permitting process,the increased tax base and the increased community jobs-
and developers with any common sense -the successful developers -dont begin a project til they have researched it and communicated with the permitting agencies to get their assurances of success.
FACT: And pro-development organizations like community development and chambers of commerce etc essentially own most of these communities-so nobody with any clout is going to fight the project locally.
FACT: So the success of the permitting is not usually in doubt-as I've said I've never seen a PRE-EXISTING NON-RESIDENTIAL USE denied the necessary permits-ACTUAL FACT.
The communities land use planning/building/public use departments often hire permit facilitators to speed up and simplify permitting in the stiff competition for business and jobs and tax base.
FACT:The developer lines up an investor who contractually agrees to front costs once permits are obtained-the investor usually wishes to remain anonymous for obvious reasons.
FACT:Many developers are often facilitators themselves-professionals in guiding the permit process.
Once permits are obtained the value of the land or project rises substantially-usually at least several fold-which is one of the reasons once the permits are obtained financing is usually not a problem because it means bucks/profit!
FACT: The #1 governing rule in land use planning is the doctrine of highest and best use-the most intensive use reasonably allowed by law-this is the mantra-anything less than this is considered an abomination in business friendly jurisdictions.
FACT: They will go thru the process because they are forced to do so by a higher power such as NEPA or SEPA-but to them its just a formality.
When I did land use planning I argued on both sides of the aisle in cases I truly believed in,because I thought there were some unique places worth preserving.
So I would argue the benefits of biological diversity in unique natural areas-using logical arguments that 40% of pharmaceuticals got their start in plant or animal based species,that unique natural areas reduced mental health,social,fire and police etc costs by providing places for people to unwind from the pressures of mechanized society etc.
FACT: The response of business friendly jurisdictions was to
1) either ignore these arguments-because they had already made up their mind based on their predetermined philosophy-and everybody thinks they are perfect and their opinions are perfect(even if they are the "dumber"in the "dumb and dumber" trio) and they wont change even if their life depended on it
2)or they considered NEPA and those arguments etc to be a communist plot to kill them ,steal their livelihood-the increased tax base that pays their salaries etc,rape their wife and dismember their dog
FACT: BLM etc already made a previous decision that the mine was the highest and best use for the land when they approved the mine the 1st time.
NOW the mine-whether presently used or not -is an established fact that inveighs against any other use.
The very fact it has not been used for anything else since then verifies this and confirms to them that their original decision was correct.
People always think they are right-so because they got caught w their pants down in allowing another mine in their jurisdiction to operate without any permit at all they will go thru the motions and make sure they have dotted the i"s-the reason they reopened the permit process was to make sure they had their rears covered in this regard- reportedly has nothing to do w anything sirg did-and unless something stronger than a freight train intervenes-they will approve the permits.
FACT: Thats the PROCESS-which is a bigger fact than all the irrelevant things some have brought up-those jurisdictions dont care about any past sirg problems or financing history-those things are totally irrelevant to them.
FACT:They see "unused" land as an abomination. Their def of unused is undeveloped. To them a nuclear waste or sewage dump or parking lot would be preferable to unused land-
FACT: I dont see any lawsuit by the Sierra club etc-and they wouldnt waste their time, because its a pre-existing use and they know the game. Such groups are between a rock and a hard place.
FACT: Courts wont usually entertain intermediate actions-i.e prior to final agency approval-and once agencies approval is final courts apply essentially the most difficult burden of proof in the law -the standard of arbitrary and capricious behavior.
FACT:I've seen developers and agencies commit the worst arbitrary .. behavior in blatant violation of laws and yet courts just rubberstamp agencies decisions.
Imo. Do your dd before investing. I'm not a financial adviser nor compensated for my posts. They don't believe what they say, so why should you?
