RE: Curtis...re: REV. . Agree with FrustrationI certainly agree that REV should have had backup plans and done some of their own marketing rather than riding the ASD money wave.
However, after hanging on to the property for about 10 years and REV owns their claims, and after surviving the low gold prices and interest in juniors until 2002, management had NO money for a reasonable drilling program until the deal with ASD. The deal with ASD is typical of the option to earn interest in the property that juniors with NO money cut with majors or others with no money. REV according to the terms of the joint venture had no ability to direct drilling and no money of their own. Not too smart maybe but some of REV's management do business on a hand shake.
As you say, hopefully, all longterm shareholder will eventually come out of these deals as anticipated. What has always angered me since ASD's default was that it was NOT necessary given any management insight. If ASD had spent the 2005 drilling money, $550,000 on REV rather than their own property, ASD would not have wasted their 2004 money, would still own 50% of REV and REV would have a 43-101 that would have benefited all shareholders. Without the REV option, spending money on their Red Mountain claims was stupid and a waste of resources because their property is land locked but with the REV deal in place, their property could have always been drilled.
I owned significant shares in both companies. I still have REV and think we will finally turn things around but like you say, this fact will only be obvious when REV stays above $0.30 per share for more than a minute. Given the current private placement, somebody is willing to bet on this outcome.
Good luck all REV/ASD shareholders.