RE: RE: RE: RE: RE: RE: RE: RE: RE: someone's buyi Well, I hope for all the bulls out there that there is someone willing to take a chance on a financing. It has been a long search though and I can only imagine that the people who believe in this story enough to finance it must be rare or it wouldn't take so long to find them.
Anyway, the purpose of a 43-101 is to protect investors from company led fraud similar to Bre-X. Snowden called Engineer an advanced project and recommended further work but I don't think they came out and actually called it economic (haven't read the report in a while though so perhaps I have forgotten something).
Maybe I am a bit jaded, but I have read thousands of reports, and I can't remember the last time I read a report recommending NO further work. For those of you who only read news releases, when was the last time you read a news release recommending no further work on a particular project? Even results that are obviously putrid get written up in a glowing manner.
Now I am far from saying Snowden committed fraud, just that people always seem to find a nice thing to say about a project. And I am not saying BCG committed fraud by acquiring the property, as I am sure management is in love with the story (as they have to be). I am simply saying there are a lot of prospects out there and yet very few ever turn into a mine, but nobody accuses executives who pick up projects that fail of being fraudulent. Further to that, there are lots of old abandoned mines across the world, many of which still have ounces in the ground but those ounces are un-economic... its just how it is...