Certainly, that a semanticists and MMEX apologists point of view.
In traditional projects, construction starts after the formation, and funding of the JV and SPV entities - i.e., construction relies first on securing project financing - the cart does not come before the horse, so to speak.
In MMEX-land, I realize things are topsy-turvy, and have no basis in reality or fact.
Reality, in this case, is that the much vaunted caliche “road” (and fence) were a necessary, and relatively inexpensive stage prop, likely necessary to exercise, and keep in force the access easement with UTLands, and provide free and easy access to the sacred MMEX flagpole and druid circle, used extensively by Mad J. for full-Moon rituals. The caliche “road” served as a temporary pump, to increase MMEX retail investor confidence, but it is not directly relate to any real construction.
Further evidence can be had in that MMEX filed no construction notice, nor did MMEX or its contractors file for, or obtain a TCEQ SWPP or related application - no permits were issued, so unless MMEX, or its contractors were in violation of TCEQ regulations, and Texas law, no construction has started.
Actual construction costs real money, which MMEX does not have - MMEX, as is a matter of record, has failed to date to close on any project financing. Its sole cash flow is the result of the proceeds of floor-less convertible debt, now exceeding $2.1-million, with more to come.
So, no construction has started, “technically,” or otherwise. There is no rudimentary topping unit in progress - no procurement, no fabrication, no site prep, no construction. MMEX does not really intend to do any of these things - it is only a share-selling scheme.
Technically construction of the project started when the dozers built the road and the fence was constructed.
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