ThSeeker...
You wrote "Sounding like this situation is as confusing as ever." hmmm... I think it's getting clearer all the time!
Dark forces have tried to muddy it up by telling you to look down at your shoelaces on this play, as opposed to the terrain in front of you. This is part of the residual problem here. Don't forget that this play is in a pre-birthing stage of development.
I know that you want to understand all the details of the current status of the operation, focussing on the Nevada Truthing project.
I have to tell you, sitting with Ed the other day and listening to his mining stuff for two hours was interesting, and the way the prospecting for Nevada is set up was boggling. There is a huge amount of thought, planning and work that goes into it, including the hyperspectral sampling, either from the gorund or from the air, of the Aster satellite data which they purchased for this purpose. The number of major steps, six in all, from taking data samples, through truthing and confirmation by independent labs, is complex and time/money consuming.
They can do it, but to complete the 104 or so identified sites will require a major influx of cash right now, five grand per site in analysis fees. My understadning is that they have done a few, just enough to get it going, get a feel for how all the components of the study kit will come together. They have 100K in the kitty which they are a loathe to touch, and have been nursing for months, waiting for a project to walk in the door to take Nevada to its next logical step.
If EKWX were to fund NEVADA on their own, you wouldn't recognize the share structure anymore.
Ed Godin is preparing an informative NR on the subject right now, so we can separate the components of this play out better, and feel comfortable going forward.
I also don't think you bought in too high. There will be other players in this thing who will buy in at your level and higher, much, much bigger players than you or me.
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