Sunrise Energy Metals Ltd SREMF

RE: Some common sense please!

[REEnewbie]

Very interesting story.
Let's see:
In october 2010,  a review and modelling by geologist Michelle more than doubled the ore reserve to 46 million Tons; from previous 15.7 million tons.
In December, CLQ announced feasibility study results, and plan to develop mine and plant to process 1 million tons per year with a development life of 14.8 years.   This is interesting because this must have been based on the original ore estimate of 15.7 million tons...and not on the October estimate of 46 million tons.
In January 2011,  CLQ announced a $100 million bought deal to finance the mine development mentionned in december.
The question is:  is the $100 million bought deal based on the assumption that the funds is used for development only for a life of 14.8 years? If so, no problem.  
The SP is a different story. The peak of $2 was reached in december 2010, probably after the optimistic ore estimate of 46 million tons announced in October and the feasibility report in December.
The SP is now
.74
The class action suit , IMO, do have merit.  People did lose money based on the Company's PR's. Who is liable , that's the question. Most likely, Geologist Michelle , and maybe CLQ, will be liable. The $50 million law suit will be overhanging the SP, and if successful, will slice
$.20 off the SP ($50 mil/ $252 mil shares).
The May 13 independent assessment review, will be very important.
That's just my opinion.
I don't own any CLQ shares presently; but did own and sold in the past.
GLTA