If you read the filing, you see that the Canadian regulators forced the Company to disclose the truth. The property is really shot-in-the-dark POS, with not only no reserves but no production anywhere in the area nearby. They have a $5 million best efforts agreement on the property, so no money, no work. But, based on what we know about the area and the information disclosed in the filing, it is highly unlikely anyone will pony up any money for exploring there, as it is a poor prospect, at best.
There is a reason why the stock is trading for a penny.
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