Fair enough, I don't think anyone here would say that the past...

Fair enough, I don't think anyone here would say that the past couple of years have been stellar years for MSR.

But the word 'deal' can mean various things.

He could have signed a deal worth nothing to MSR shareholders if he wanted to as far back as the Russians. That's NOT disputed. It will be the QUALITY of any deal that's important. And so far it hasn't been exceptional for MSR shareholders. My hunch is still that the whole project will be sold, for what I have no idea.

"He had no deal and was desperately hoping a small CR would tide them over until anyone would buy and take it off their hands. Didn't happen."

That small CR for 3 cents to some business associates was after Stephen gave them a presentation on the present state of play. Don't you think that he would have said something to convince them that if they invested their 3 cents, that they will get that back and then some? And if option 'A' fell through (A joint venture or debt to get the mine up and running), there was option 'B', sell the thing off! Option B would return 3 cents + back to them. In the end they would get their money back, hence why they took part in the CR.

Consider this, let's say MSR has only 750,000 ounces. Let's also say that they sell for only $25 an ounce. Please remember that CHZ sold for $45 an ounce for a lower grade, higher C1 and C3 costs and without permits or a BFS. Although it was in the safer country of (Turkey), anyway...
That's still $18.75M.

That would work out to be around 4.8 cents a share. That is why Stephen was able to get investors to take part in that recent CR, because he had the option 'B' as a back up plan IF he couldn't get a JV deal done for what he thought wasn't selling MSR shareholders short. And as this drags on, option 'B' is becoming more and more likely, not a possibility.

Selling the whole mine is still a deal.

All the best.