RE:RE:RE:RE:RE:One more thing to add to thatMOZ was a straight forward, open pit, fully permitted, feasibility complete simple mine....and yet COSTS ate them alive. I80 is infinitely more complex, expensive and dependent upon all mines feeding a central autoclave. None of the mines are stand alone projects so you can forget about them selling some and developing another...it would be hobby mine at best.
No major is going to buy them out without full and complete feasibility studies proving the economics. Those cost millions are years away still.
All you people who bought this pig in a poke did so on "Hope"....and drill results. Well drill results are one thing but they by themselves do not make a mine.
I80 needs $500 million large and that's not going to happen no matter how sweet the new CEO is or how many people he knows
ASCOT failed because of COSTS MOZ failed because of COSTS NCU failed because of COSTS PURE GOLD failed because of complexity and COSTS I80 IS FAILING because of COSTS
If it were even possible to get the money you're going to get diluted to the size of an atom OR they will have to give away the farm OR go into onerous debt they'll never make good on
This brings in Eric Sprott.....A billionaire from selling products to rubes. He's a terrible investor but a savy bankster. He is a god among predatory lenders like his henchman Rick Rule....they don't make money investing in mining they make money loan sharking to desperate outfits like I80
The assets Ewan Downey accumulated were throw aways by majors. You think Barrick and Newmont gave him gems in their own backyard? They had those projects and the autoclave and thought better about trying to develop them...hello?
You may get a chance to exit on a dead cat bounce or when the bagholders buy up the junk after tax loss selling or on some wishful news release but if you stay you most likely will lose everything IMHO
And if the gold rally goes kaput that will happen sooner rather than later.