This is a good description of water under the bridge. The question is what to do now.
In my opinion, ZTEM is a necessity.
The chances of drilling and missing, even if a great mineral deposit is there, are probably a lot higher than you imagine they are.
ZTEM is a cheap way of greatly increasing the chance of putting a drill in the right place.
Good ZTEM will significantly increase the odds of getting drilling money at a better price (less cost to the company) than is available now.
Since ZTEM first came on the scene it has proven to be an accurate mapping method. It may not have mattered a few years ago, but it matters now. People have learned.
Taking what money we have now at whatever miserable price we can get it at and drilling is a more desperate action than is required.
It's like a kind of Russian roulette. Chances of putting down a few holes in the wrong place are pretty high. Chances of drilling in the right place but not deep enough are pretty high.
After ZTEM the chance of putting a few holes in the wrong place is much smaller. That's what we want to be able to tell the investor(s) who funds drilling.
I've heard people say, just sell BC and get the money. I'm all for deals of the sort Gem has described, but not for just dumping BC for whatever we can get. If we get some money from a BC deal I want that deal to include some upside for us. Those targets on BC are just too promising to give away cheap.
The $5MM deal that was done (and will be finalized after the liens are cancelled) was ok with me. We not only got the $5MM off the books, we also covered the payments to hold the claims for awhile, and we got back the 60% of all our other targets that were in hock to NAK.
All the money that has been spent has generated a real value. It was not all put to bad use. Some mistakes have been made, that's true. But that's history that no amount of criticism will set right.
I understand your frustration and I too wish all this would have and would still happen faster.
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