Eric, A different angle of the dangle leads me to other conclusions.
<<<In 1995 the Black Rock property was optioned as a gold-silver- rutile property.>>>>
Yep, the platinum masks most of the gold, and itself. It was a large property but not economically feasible for the tiny amount that was showing. Hence, the half dozen old geezers that owned it only had hopes of somebody utilizing it.
<<The option deal mentions no dollar figure at all but says they could earn 80% by placing the property into production at 10,000 tons per day.>>
How can you demand cash up front for a property that may not be minable? First you have to get enough gold to make it a goldmine. The dirt is easy to move, No trees, muck, large rocks, frozen tundra, and the washed gravel (if I may call it that) is only a coupla feet deep. The pay starts close to the top and goes as deep as they could go. That tonnage becomes enormous! How do you mine it tho? Dry washing with fans and conveyers? Sluicing 400 micron flour? Later on heap leaching was invented. Everyone knew chemicals could be used, but at what cost? These old guys started dying off, but they kept the property. Someday there would be someone.....
<< It said that they planned assaying optimization before drilling in 1995. Seem like they anticipated their assaying breakthough well in advance. >>>
If you weigh a measured amount of anything, and the weight shows that it is heavier than anything on the planet except gold or platinum, what would you do? What would a person without your education do? How?
Economically feasible has always been the name of any game. An old prospector met a young gambler looking for play. The young gambler assured the old prospector that he could get financing, and a crew of knowledgable people together that could do it. The old timer refused to sign over anything until they proved it by mining the property and paid him in gold. Since then they have changed that old deal......
Interesting, isn't it?
Theo
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