Can someone on this board explain to me (a relative newcomer) what are the CONTRACTUAL PROTECTIONS that:

a. Convey the exclusive rights to this WEM mine to GHDC in the first place? From whom? For how long? At what terms?

((My understanding is that GHDC is the company that actually got the rights to WEM and then has leased those rights to SFMI))

b. Convey the same exclusive rights to SFMI? At what terms? ((The only thing I remember reading is that there is both a "Lease" and "Royalty" payment due from SFMI to GHDC.))

c. Since SFMI cannot pay anything really, does the fact that SFMI has to work out deals with GHDC to pay in stock when it cannot pay in cash, does that give GHDC a legal loophole to cause some BREACH of its agreement with SFMI? ((I may not understand this exactly, so I am looking for clarification for the FACTS, please.))

d. How long can SFMI fail to produce anything substantial before their ONLY "serious asset", SFMI's CONTRACTUAL RIGHT to mine WEM, evaporates with the expiration (or breach) of that contract with GHDC?

AND FINALLY....

What can stop GHDC, PQ, et al., from sinking this little boat, SFMI, it is towing behind the "mothership" and just restart with another corporate entity who GHDC assigns the WEM rights to, wiping its hands of a failed SFMI and moving on to greener pastures?

PIC, Carmine, BOUTS, Cowboy, Sphiny, etc. etc..... These are serious questions that I have as an investor who owns a few million shares in SFMI. I am only looking for the facts and not anyones opinions on what PQ, Mysterious Masked Riders, Canadian Investors, A.S., etc., may or may not do. There must be actual contracts in place. Perhaps some or all of them are in SEC filings, but I have not taken the time to look for them.

If anyone has links to the actual contracts I would greatly appreciate links to them so I can also educate myself further on those details.

In conclusion, it occurs to me that if there are loopholes that allow GHDC to lose its rights to WEM, or SFMI to lose its "pass through" rights to WEM, this could be a major risk that I currently have little knowledge of to determine if I am willing to wait around holding this stock for a long time. Because, based on what everyone who reported news on the SHM has stated, it will be YEARS before SFMI is even capable of pulling out of this morass it is in.

It also seems to be a MAJOR conflict of interest for PQ to hold the reigns on both of these companies as SFMI is so dependent on GHDC and not the other way around.

As the CEO of both companies and for whatever reasons, including his own incompetence, PQ wasn't able to execute the plans that he sold everyone on years ago and everything took way too long to materialize, I would think he would still have a plan to save his own ass. My concern is that plan may include letting SFMI tank and focus on GHDC share price growth.

I hope someone who knows more than I do about the situation can tell me why this cannot happen.

~YOLO.