And the current market SP is $0.015, RI at $0.002, who knows how many shares are up for grabs? Terrific deal for RI takers ... IMO I think NOT!
Maybe some are seeing the light - continued dilution on the back of promises to drill May River and Bolobip, and to provide a JORC Resource/Reserve Statement for Edie Creek - now that would surely have to make the SP rise, so in they get - time passes by - where's the lab results, wheres the JORC Statement, Qrtly comes out, bank balance below $5k, related party debt increases, where did the money go - maybe in the excavation
Pilot plants are test plants, what exactly is Dick Tracey and the Professor actually "piloting" here, sounds to me like a "small" operating plant - throw in some dirt (don't know what's in it) and hope to produce Au - I know they are trying to work out how to become Midas!!! If it ain't in the dirt you ain't gunna get it! No drill data to guide extraction = dirt in and a little bit of hope.
Me thinks the vultures are circling, a serious cash injection via a CR will mean a very large issue and substantial dilution at current SP, there has to come a time when reality hits the road. Is this thing truely sustainable or is it as
@FixItDad indicated a good tax deduction for Dick and the Professor - after all Dick continues to convert his dues every year, so there is no cash stream from NIU for him!
I am betting that an announcement about use of funds was to pay off debt (e.g., current wind-up application) and then same old same old - no money for drilling or operations or maintenance or equipment or...
