Ann: Exploration Update, page-95

Why isn’t there money lining up and down the street to get a piece of this action?

The main reason is that they just don't get it. The geology, the location, the exploration story, etc is too unconventional for most people.

The big investors aren't too much smarter than the small investors (apart from the unfortunate punters that have got no hope). I've met some terrible geologists that have a tenuous grip on reality but are doing due diligence for some of the biggest investment banks in the world (I'm not joking).

Another reason will be the chart (although it's at support now) and the SP which is low due to one dumb impatient seller. A $50M MC with ounce plus dirt at surface? It doesn't make sense does it. Another reason will be the chequered history, i.e. the people that got burnt in 2015.


Why isn’t Drake opening its cheque book in a big way to accelerate the activities of the company and start making money in the big way of which you predict?

Drake doesn't need to open its cheque book. The delays aren't due to a lack of funds, it's caused by the dysfunctional bureaucracy that is Brazil and the complexity of the task at hand. BBX is making progress although it's not very obvious from the ANNs. Time will tell and will prove me right yet again.