The deal is far from done. KIG have already missed two deadlines...

The deal is far from done. KIG have already missed two deadlines and CTO are free to carry on negotiating with any other interested parties. So do KIG have the money? So far no evidence of that. But they don't want to go away do they? Presumably they did DD.
It all comes down to the ore reserves and mineral resources report which is detailed on their website and which complies with JORC and the Canadian NI 43-101 reporting formats. The compliance with the 43-101 is important because it is more stringent.
Inferred is 11 million ozs gold.
Indicated(probable) is 3.2million ozs at 7.g per tonne yielding 780,000 ozs of gold and 520,000ozs silver.The cut off grade used was 4g per tonne. If that turns out to be proven then they will get a potential revenue of $780m plus using $1,000 per oz price for the gold just on the indicated let alone the inferred. So that lowers the risk a little.
They claim low extraction costs despite this being underground mining. There is a lot of dirt to moved to extract the gold.
Grades have been as high as 14g per tonne in drilling tests.
So, in summary, if they get the money and start producing at the claimed extraction costs then it is all blue sky. They can continue drilling and testing to convert inferred to measured and proven as they ramp up initial planned production of 320,000 ozs per year.
And this is not start up. They have been in continuous production since the 90's( very small amounts produced) so to get really going will not take that long.
So we are looking a potential bonanza gold deposit with low extraction costs but lacking money and the right management to get it up and going.
If I had a spare $70 million I would be tempted to take this over.
Would you?