AK, Maybe, to your first question and of course to your second.
Digr may will be right that this is a smelly Turd, a POS and a scam. I am not convinced that he is right OR that GE will be a two/three digit stock with the 300 million plus shares out, fully diluted.
GE is mining a very unique historically rich gold deposit. The easy stuff is gone, they are going to process the ore with a technique that is specifically designed to recover gold from this placer deposit.
They have devised a method of extracting the FINE gold from the ore, something no one to this point has accomplished.
It has been estimated that 90% of the fine gold went into the tailings since the previous refining methods were inadequate to recover them. Atwood, Ph.D. thinks he has the method by which the fine gold can be recovered from even clay. We will see.
Jury is still out, hard to prove what recovery will be in this type of placer deposit. GE will have to prove by doing. GE has 74,000 acres of conglomerate averaging 2500 ft in depth. 14 miles of the valley you posted. They think they can open pit mine and block cave, refining fine gold in a sufficient quantity to be a very profitable company. I am encouraged that some metals gurus watch GE. Time estimates on when investors may have a good idea of consistent recovery range from a few months to years. I am in no hurry. This is a very speculative play but with the POG pushing $330 I am encouraged that with GE claiming a production cost of $75. US, this could be a good speculative gold stock. Even at $150.00 cost, at .5gpt, it is still a profitable venture if they move enough ore.
I am not a rah, rah at all, but I am not negative either. GE is making progress, I hope I can trust that from the public information available to me. The GE Board has some highly credentialed mining people on it, I don't think they would risk their reputations on a scam.
I take lots of abuse on RB and SI for being negative or being a fence rider. There is investor I know who is a mail carrier who has invested upwards of $65,000 in MYNG over the last few years...WHEW, talk about being Pro! This is a speculative penny stock right now that may be shaping up into something that will be profitable, that is all. I love the land, don't care who extracts the gold from it.
Digr is right about the millions of debt, the salaries, and the $100,000/month burn rate. He is also right that two investors bailed out GE with about $4,000,000. Whether they will turn out to be suckers or billionaires is yet to be established.
This is no rose of an investment right now, not a sure thing, but IF GE can pull this off, do what they say they can, it may well turn into a fragarant rose for it's investors.
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