Doug, the organizers of this drive, I believe, are talking about raising at least $1 MM of "new money" from some of the current stock holders. I think a valid question (assuming this money is "raisable") is what is the best deployment feasible for these funds with the "sole restriction" that these funds be invested in "extracting goodies from "Desert Dirts".
I maintain, from a pure business opportunity point of view, that there are better ways to deploy such funds than reviving IPMCF or the black rock.
For instance, you look at the existing DD's companies and their current capitalization, I believe these are in the range of $5 to $15 MM (at least for those still walking). I would create a "mutual fund" (once again we can call it the GDDI fund) with this new money and invest in one or two of the DD's that are closest to production. From the DD's I know a little about GPGI,and even there I have difficulties separating the "facts" from "wishful thinking", to be generous. Some other people here know Maxam pretty well and they seems to be on the "verge" as well. I would say that it is best for these two companies to get their next financing directly from the IPMNCF fund than to go out every two weeks or so and sell in PP few shares here and few shares there. Furthermore, the GDDI fund will have a seat on the board of the companies it invest in and some say as to how to rationalize the path to production (or should I say the "golden chalice", or "golden fleece").
I think that this would bring much faster and better returns than paying off IPMCF debt holders and restart the black rock saga all over again.
Zeev |
