Why the phool will always be a phool"The imminent publication of the 43-101 technical report is the tool that will make it possible to obtain this financing."
When it's any other company under discussion (eg THX, CERT etc), the phool always says he needs to see financial reports proving profitability before he will invest. Healthy scepticism, you know. But when it's Sycamore, the new partner of his beloved RBX, then suddenly he has total confidence and certainty based on extremely sketchy information. A few of the major red flags:
- Sycamore has ZERO compliant resources - only a "historical" resource based on outdated procedures. And as the phool loves to remind others, resources are not economically accessible reserves.
- Sycamore failed to produce a feasibility study as required by the Guinea government - why?
- With no feasibility study, or even a pre-feasibility study, Sycamore has ZERO mining reserves, and no guarantee that there will ever be any.
- As a private company, the public has almost no information on Sycamore's assets and operations. What have they been spending their money on since they took over the project, if there is still no technical report, let alone a feasibility study?
- There are literally hundreds of exporation companies publishing technical reports, but obviously most of them do NOT lead to financing. So the big lie told by the phool above is transparently intended to mislead other phools.
- It's Guinea - do your own research and draw your own concusions.
But hey, life is a gamble, right? Follow the phool if you want to throw your money into a black hole based only on blind faith. Or if you already have money in RBX, just keep it there and watch it slowly melt away, while you miss the real opportunities with companies that are moving forward.