Yes, in retrospect, Wingett and his fellow execs if at all involved, simply made the wrong geologist hire re the 43-101. Could have been a matter of referred reputation, locality, cost, who knows? No doubt utilizing the top of the food chain geological consultants, some identities mentioned in the article in my last posting, for a 43-101 is an expensive proposition, perhaps beyond MISM's resources?
When you look upon a pink such as MISM, wherein Wingett is just a presumed hired executive and a likely minority shareholder, you have to dig far deeper with regards to the identity of the shareholders who truly control the company. What entity, and if an entity who are the entity's shareowner(s) and what is THEIR history, and exactly how much stock do they own and what percentage of the total outstanding and authorized to be issued, and of what type, e.g., common and/or preferred, and can they, if controlling, dilute all other shareowners' stock holdings? As for reverse splits, such also typically reduce the number of authorized shares so all remains the same percentage ownership anyway.
Agree that the alleged 43-101 smelled like a pump & dump scenario re then, theoretically, the majority shareowners could have the company issue more outstanding stock from that which is authorized, and convert their seeming preferred into much common, and issue into the market. But with such little publicity and few third party shareowners and no boiler rooms to do so, the likely scenario, in my opinion, was to utilize the 43-101 as a funds raising tool, as evidence of the worthiness of the company for a loan by the majority shareowners against their shares, some of which to be utilized to develop the mine. Nothing unethical or illegal in that. Now, just a matter of an additional assay that can confirm, wherein a capable lender/investor would seemingly be willing to finance such assay, in the terms as was suggested by conclusions in the alleged prior 43-101 itself, if not even more thorough. This is a cost of just pennies relative to the claimed measured "reserves," less the mining-to-full refining costs of course.
