I hear you, and I understand where you're coming from. But one of the primary aspects of this investment that I like us that management is reluctant to dilute. That may slow things down, but Scott seems determined to get this thing to a mine with as little burden to the shareholders as possible.
Personally, I'm glad that Scott hasn't spent a lot of cash on consulting work from external geologists to survey existing data from comp deposits to develop a guess about how much more of a good thing Neme contains instead of using that money to sell what is proven to a viable customer. I'll take Scott's approach over that recommendation.
It would be nice to drill a 50m grid system as recommended but that is expensive, and there is enough historical data to make a good case to potential partners to provide financing for expanded explorative drilling without putting the cost on shareholders. Again, I agree with managements approach.
I'm not sure if they paid SGS for metallurgical testing per the quote or not. It was recommended and if they did, great. If not, the PRs state that they are still working on a deal to get the test results from Shandong at no cost to shareholders. That is why I think the Shandong testing is a great deal, and from what I know it's still ongoing. Again, management adding value.
Next recommendation was to pay for environmental impact study. Very necessary before the major investment, but I think that securing the path to the mine should come first. I wouldn't be very happy about funding an impact study at this point. Cart before the horse.
Finally, bench testing by SGS was recommended. I've wondered if the bench flow was part of what was being developed at CRIMM. Don't know. Maybe you do?
Anyway, I guess the bottom line for me is that it doesn't make a lot of sense to spend cash on the recommendations in the 2009 report instead of spending the money on securing a partner that can bring a BFS to shore and enable the financing required to unlock the resource. That is the pot of gold and Scott's taking the shortest route IMO
Nobody said it would be easy.
