"Something else I was curious about re: the Stagg Report. Why not do such an analysis before the land is purchased, instead of after?"
LE, I know a little about the resource game, just enough to be dangerous.
That's the order things are done in, imho. First you capture the land as cheap as possible, and only then do you spend money on exploration and engineering studies and drilling and assaying and prefeasibility and feasibility studies. Otherwise you would be investing in somebody else's claim. The most open blue sky, and thus the best opportunities for promotion, come at the point where you have made a deal on the land and announce that you are spending money for some bigname firm to come and look at it. Lord help 'em if they get any cashflow going - that's the kiss of death for a speckie junior, it replaces the blue sky with boring reality.
You'll find lots of this over in GM&NR;
207.183.153.73 - it's normal.
Liars abound, but over 30+ years I have made more money in the game than I have lost, by far. Probably just luck, combined with a healthy dose of cynicism and experience in the promotional cycles. Promotion is not necessarily a bad thing or a red flag, without some degree of it no junior could attract capital.
That being said, I wouldn't touch this MTEI with your ten-foot pole. Way too many red flags, the death threats being only the most extreme example of the organised hypester phenomenon known as the 'Rocketeers'. There are hundreds of these little junior companies, even just within the oil and gas sector, nobody has to get mixed up with wannabe gangsters to make a buck. |
