AMYZF: Michael, I could post your questions on the TSX:AMY board as I don't have complete answers. It only seems to me that they got this land on the cheap as (1) there are currently no EMM developers in the US so perhaps no one was paying attention to the land (2) they have a patented innovative process for extracting low-grade ore such that -- without this technolody/process -- the this land would *not* be worth billions. You can see from recent press releases that AMY was testing their process so it seems it had not been 100% proven.
Also, the land might not have had to this point proven reserves. I'm not sure the science but similar to oil, geologists, engineers, etc, build predictive models as to where to drill for oil (areas of high probability) but need to drill to know for sure that there are indeed reserves. Perhaps that was the case here as well?
I'm not sure this helps at all....?
You are surely asking the right questions. When I have time later tonight, I'll try to dig deeper...
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