GREY:COLUF - Post by User
Post by
BobBuilderon Dec 10, 2013 1:11pm
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Post# 21990561
Reality
RealityThe reality here is that the project should have never advanced this far WITHOUT a compliant 43-101.
In terms of large investors, Sandstorm was naive (or greedy) enough to throw money for construction at this without a 43-101 (I'm ignoring the fact that retail shareholders did the same thing). So now everyone has learned their lesson the hard way.
My take is Sandstorm made some phone calls last month when the sh:t hit the fan and tried to bring in new investment to share the burden. I would guess there were MANY willing to consider this investment, but if they were smart they would have said;
"First, stop wasting money. Second, get a real 43-101 together. Third, get a competent Management team in place. Then we'll talk"
Those three things are ABSOLUTELY necessary to move forward. Once they're complete, then MANY positive advancements can take place, both financially and physically (on location)
This is a simplified overview, but you get the idea.
"No more throwing money into the darkness... so now we'll shed some light on things."
GLTA