Not to be too optimistic Ron, but could I mention a few other companies names that you may have heard about.
A company named Diamet Minerals was financed by second mortgages and visa cards in the early 1990's, and paid some of its outstanding invoices and wages in stock just prior to making a discovery that you may have heard about. A no-capital company had recharged the exploration environment of North America, and may have reshaped the world diamond market. Their shareholders did okay too.
Another company called International Corona Corp. was on the verge of calling it quits, drilling a promising prospect when drillhole 72 finally hit. That capital-less company put the town of Hemlo on the map of the world. Most of their initial shareholders can point it out to you.
History is full of examples such as these. Not all turn out, but some do. It comes down to people, not money. Many companies would dry up and blow away were it not for a core group of people who believed, and pushed that extra day. You may fault Fipke or Blusson, for not abandoning Diamet and doing it on their own, but they believed they owed their backers one last kick at the can, despite the final funds coming from their own (and other directors, friends and families) pockets. It's called integrity and commitment.
Mongolia may or may not be a good place to do business. To date we have no reason to tar the entire country with the brush reserved for a few. We'll see how the saga unfolds, but we're willing to go that extra mile.
Dave |
