I think you are right. I read here that only the Q/R property was pledged for the much larger 10% loan by outsiders. And it was quickly approved.  There sure seems to be some problems getting quick approval for this loan.  I am wondering if some joint venture might make sense with an experienced mining company with abundant cash? Since everything is already pledged where do you go for more money to pay everything AND start up the mines?  If some serious buyers are doing dd maybe some deal could quickly be reached to try before you buy and let them take over operations with an option to buy or merger or something?  This CTO is getting old.