Hi @malay, they announced that they had paid $20K which gave...

Hi @malay, they announced that they had paid $20K which gave them an option to do 2 months due diligence on the 240,000oz alluvial project. The reported grade of 6.1g/t Au is right up there considering alluvial gold can be worked economically at 0.2g/t. In that period of time the due diligence comprised re-sampling 21 old auger hole sites (original samples had not been assayed and were sitting in a shed) and only to a depth of 1m. This would take a single person 1-2 days max. Nothing else was done. They then blamed lack of test pitting/further work on not being able to obtain permits and made out the vendor was being unreasonable by sticking to the agreed due diligence date.

Showed a few other exploration geo mates what the companies due diligence comprised of and they just shook their heads. I just thought the company made a few poor decisions in respect to that project. Maybe I’m just a bit bitter for getting caught up in the hype and not doing my own due diligence more thoroughly. Anyway, looks like they might be on the right track with a new project so wish holders well.