As you mentioned earlier in this thread, the likely motivation...

As you mentioned earlier in this thread, the likely motivation of the MoU announcement is to demonstrate to potential lenders that there is a partner in place ready to take on the Project in accordance with the mine development plan - including costs and schedule estimates that have been presented to lenders.

If placing GR Engineering in the box seat costs us $10m more in the long run, but secures us some short term credibility with a lender(s) and credibility in the market - I would take that over a drill campaign. If however funding falls over after the recent statements by the company regarding finance, then I'll back the position to undertake another capital raising, and drill for more resource....or maybe just cut my losses.

In the last ~ 2 months we've seen:
• A simplified mine plan with lower costs due to a reduced initial development effort rather than a reduction in wages.
• Several announcements/ references to funding that have been absent for a very long time
• National coverage in the media that stirred a bit of interest beyond the 'new appointment' type announcements
• The first major brokerage firm in 12 months (maybe more) coming out and backing the company
• A MoU being signed with a fellow investor and strategic partner (although you are entitled to question the value of this).
• A market cap roughly the same as 12 months ago

Surely even the most cynical among us has to acknowledge the events/ announcements of the last 2 months cannot be any more damaging to our reputation than the 70% decline in shareholder value since those distant drill results in 2012 and subsequent loss of $91m in funding.

*places tin foil hat on head* - I am backing MYG because I believe gold will continue to meet resistance at 1150 or thereabouts with nothing but upside from there. I don't know all of the gold miners you mentioned but maybe their production costs were too high for the smart money to get a return on their investment. But ...some of that smart money has gone to lower cost producers and wannabes such as Northern Star and Metals X. I think there is money to be made in gold...maybe not smart money though.

Anyways - Since Credit Suisse pulled out, Sandstorm pulled out, the gold price tanked and no alternate funding has been secured ...this is about the only time in the last 2 years I've felt like there's a chance with this stock.

If the concerns you have regarding these announcements and statements from the company are about the trustworthiness, substance or value of them actually materialising into anything then we'll have to wait a few more weeks before you are proved right.

Would you take financing now if it was on the table or would you want to keep drilling?