Another thought is the management would like to open its book for everyone and put the company in auction mode.
Cash $82 millions
Accumulated loss ($69,424,032)
Gold reserved ~2M oz
Tom (the founder) waits for so long to sell the company and quit recently. He still keeps 25 million shares. Will he be so stupid to let someone to ruin his money.
His plan is to let Peter to do fishing..... Good luck to all.