Dripping assay results here and there is not going to cut it. We know the gold is in the ground, but that is not good enough. There needs to be a well defined plan for getting it out of the ground.
Firstly, there is the $5 million loan to Sprott. How are you going to pay this back, how are you going to raise capital at these levels? We need to close a financing deal somehow, and we need a news release about it soon. Might be nice if we could sell a stream to Sandstorm, but one of their conditions for providing the cash is that we have a CEO who has already taken a project into production. Unfortunately, we do not, so all you financial wizards on the board need to come up with some alternatives.
Second, we need a credible plan for moving forward with engineering studies; pre-feas and feasibility. We never found out why the updated material resource estimate took so long. Why a delivery date was named at least 4 times and missed every time. Whatever process or people used that last time must change this time. It is simply unacceptable. How can investors trust you to build a mine on time if you can't complete simple engineering studies on time.
The above two points must be addressed and communicated to investors asap. Who would have imagined the market cap could fall so low. It is time for SERIOUS changes to be made in order to turn this story around.
We know the gold is in the ground. I repeat - we need to know what the credible plan for getting the gold out will be and we need to know asap.
Golden Kiwi
