Credit where it's due.. and isn't..
Re this question of management competence, give them credit for tying up an entire greenstone belt, discovering a fabulous resource and having today the lion's share of the equity capital that will be required to finance VG.
On the other hand, FUNAI rejected the Indigenous Study for three reasons: 1) Index format, 2) Technical team, and 3) Primary data. Number 1 sounds like bureaucracy run amok. Maybe the report index is in the wrong font size. Number 2 is much more significant: obviously, there's a personnel problem as in not having the proper credentials. Number 3 is deadly and likely implies that there's nothing salvageable from the first study. Start all over again from square one.
So, much as we might admire the technical competence of TransCanada Pipe, trying to ramrod Keystone thru the Sand Hills of Nebraska wasn't the smartest idea even if that was the way things had always been done. The world has changed and not only in Nebraska.
But I have good news. Hopefully in the very near future we will hear from the company and they will lay out next steps. How they handle that will answer the question of competence loud and clear and every investor will be in a position to decide whether he or she wishes to commit or continue to commit funds to this management team. If we get little information from the company, that will tell you that perhaps your dollars would be more comfortable elsewhere.
A tangential heads up: keep in mind that Brazil elections are in October, both federal and, I believe, Para state. Lulu previously worked a miracle for that country despite his communist background, so don't believe the inevitable dire warnings of imminent disaster should he win, as currently looks very possible.