I think there will be a buy out offer after the next round of drilling and the 43-101 update.  Until we get the M&I percentage up, I don't think the interest will be high enough.  I do agree with eodway that the 43-101 should be being updated right now.  That is what the off season is for - for most explorers.  Crunch your numbers, update your resource, then go to the market looking for funding.

 

Also, I'll toss this out there again.  Greg, get in touch with the royalty streaming companies and offer future gold production in exchange for funding the next 14 months of drilling and reports.

 

The last couple deals SSL made were at $200 per ounce of gold.  That Mongolian deal probably doesn't get them any gold any faster than Wellgreen could provide it.  If you were to forward sell 25% of Wellgreen's gold (25% of 2.39 million ounces in the old 43-101) that would be 600,000 ounces.  If you could get $100 per ounce for it, that would be $60 million.  Well, why wouldn't they just buy the whole company then and get 100% of the gold, all of the platinum, palladium, nickel, copper and cobalt? 

 

Well, that is the point.  Someone should be trying to buy the company at these fire sale prices.  I'm sure PCY would be willing to let their shares go for the right price.

 

Back to the royalty idea.  If you can sell 600,000 ounces of future production for a paltry $50 per ounce, and get $30 million up front, why wouldn't you be prefering this idea to issuring shares?  Your shareholders would love it if you could arrange this Greg.  They know the PGMs are worth far more than the gold, and that the base metals are worth far more than the PGMs.  Use the gold byproduct credits to get the sp back to where it should be.  And cut out the financiers who seem to be holding the sp down so they can squeeze a deal out of you.

 

Heck, I'd be willing to buy gold from you now Greg, for $50 per ounce, with expected delivery in 7 to 10 years.   Wanna do a side deal?