You raise a good point. There is a fundamental difference between bad management and out-right fraud.
There thing is, I've seen bad management screw up a good deposit. I've seen the hucksters peddle a piece of sagebrush as the next monster deposit (BREE-X comes to mind). But what I don't get is when the hucksters take a good deposit and pocket the money that could be used into turning it into a profitable mine.
From everything I've read about the Osceola District, it could be turned into a serious mine. Placer deposits are not capital intensive and are easy to scale up once you prove the concept. They don't even require a detailed geologic understanding. The best mines I've seen were run by equipment operators who knew how to mine gravel and process it. This isn't rocket science.
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