RE:RE:Still On CourseIMO it's a little agressive to call it a SCAM. THere are a number of disconcerting items that raise questions about this Eskay project and Skeena overall, and Walter being the chief bottlewasher has to shoulder some of the burden here.
So here is my laundry list of items of concern:
1) The Met resutls were clearly overpromised and under delivered.
2) Relatively INSIGNIFICANT insider buying at these reduced valuations.
3) Seemed like a lot of time and little money for the PP to be taken up and closed.
4) Valuation of GJ Spectrum in the PEA must be total BS.
The story was that they signed Confidentality/Standstill agreements with about 20 parties after the Reserve Report was published...............Not one of them wanted to buyout or make a strategic investment? We had to wait months and months to get $5M from Germany on a price below where we had been trading. Looks poor.
GJ Spectrum was supposed to be worth $300M, according to the toilet paper PEA. Yet Skeena was supposed to sell or JV the non-core assets in order to avoid futher dilution to shareholders at such a knock down valuation for the Eskey Creek open pit high grade decent size reserves that could be easily upgraded from inferred to indicated with some infill drilling.
Eskey looks like the highest grade largest open pit resource on the planet right now, yet there is about ZERO insider buying and about zero industry/institutional interest. It should be much easier and cheaper to permit a brownfiled development in BC right now. We are near power, roads, mine, tailings, etc etc. Yet there is near ZERO momentum for this stock since the Reserve Report. All with an increasing commodity price.
What is wrong with this picture?