Digging deeper.... The "prize" with Croc is the potential at the Union Reefs Project - Prospect Deposit and the Maud Creek Project
I agree! They spell it out their exploration reasoning and plans in their current M&D. They let go of exploration properties that are early stage and are using their exploration budget to find reserves that can be mined in the nearer term. Makes sense if you look at their current position and what they must plan for to make sure they are successful. Those properties wont do them any good if they don't make a go of it with Cosmos, it will be lights out.
When it was suggested that their was collusion and under the table deals I decided to check out and see if their was any truth to these suggestions. I phoned pitchstone and chatted with their new ceo. Not a bad guy he returned my call. Stan seems to be a questionable character on this board. In all fairness to stan not all of his ventures have been failures, although I could mention a few in fact Pitchstone is a rebirth of a failed Forbes jr. that has consolidated its shares and is going through that failed jr cycle again.Further I think Stan should have stayed out of the oil and gas business for all our sakes dismal to say the least, but with iron gold he has some successes.So to the point of my rambling, Why not unload them to a known company that may make a success from the properties after all they will own 10% of Pitchstone. I asked him why crocodile didn't bargain for more (I was thinking NSR or more shares, warrants?)and his response was he wouldn't have given them more. Remember this is not a sellers market in the jr gold sector, Its more of a buyers market. At any rate I agree I don't think this sale will matter in the short term. I'm in because I think this company is getting better at what it does. It picked up a load of qualified miners that talent is now helping them develop cosmos properly. They were in a big rush to get cosmos up and running (this is from Rob Hopkins their IR rep) but had not done enough drilling for a good mine plan. I'm guessing they are getting the best advise to be found now, from their new employees. They have a good mine plan now, they just have deliver and really what is to stop them from doing just that?