I am a long term investor in this company, but have no relationship with it, aside knowing some of the directors, and trusting them.
This is a start-up company, reviving the Empire gold/copper/silver/zinc/tungsten mines in Mackay, Idaho, with initial work necessarily focused on generating cash flow through projects. The first ones to go are either the gold in Empire Open Pit, or the silver in Red Star. In a few weeks we expect a complete re-write of the 43-101 Resources, when from the results already in, we can expect them to JUMP. This will be followed by a PEA, which will be off the scale compared to previous work. The facts are there. The previous PEA was made chasing copper, but has now switched to gold, with gold recovery now predicted to be around 97% through use of the environmentally friendly thiosulphate process. We are way off the share price stated by professional researchers.
Once we have the finance, and the company are confident that it will be in place before the end of the year, the projects are essentially derisked. It must be stated that they are fully funded through the present programmes. With production starting from end 2021, we have a cash flow, it becomes a company, rather than a project. At this point they can finance themselves a look at the deep underground, the reservoir which has been feeding the surface veins. Then the price should soar, since the consultant geologist estimates that they have only discovered 1% of the resources to date, noting that they have approx. $2 billion of in the ground resources already confirmed.
I have followed this company for several years, and am happy to respond to any question. Again, I have no association with them.
The above is just my opinion, and not offered as advice.