Our good friend Rocketstocks had this to say...

They had $81,567 on the books last quarter... No $$$ = no major work being done. Mining is VERY expensive... hence the REQUIREMENT of closing this loan so the can BEGIN the confirmation phase, per filings

Why should we think that a JV is not in the works? With, perhaps...and I just speculate...Scorpio mining, who, according to their most recent financial statement filed June 30, 2011 has almost $17M in cash...as well as a $330M market cap, which becomes the basis for some serious loan action.

I for one would love to give up some of the pie to bring Scammell's old company in to help us rip out the serious ore inside the Sinker! Maybe this whole thing is a lot bigger than most of us realize.

Sound crazy??? Just keep your eye on the Scorpio pps. It's been doing some rising as of late. ;)