A $1.6 million financing plan is Santa Fe's only option for raising cash to get through a Chapter 11 sale in the next 90 days.

Well, this is an interesting development.

About a year and a half ago, Santa Fe backed out of a deal with Tyhee because Tyhee couldn't raise $20 million in qualified financing in time.

Briggs et al. may yet look like geniuses if they were slow-rolling the Sutter Gold deal, waiting to see whether they can use RMB's money to buy Santa Fe out of bankruptcy. It's hard to see how Santa Fe's going to get DIP financing when no company is paying a premium for junior gold miners right now. Probably easier for an interested party to deal directly with the biggest creditors.

Does anyone here think picking up Santa Fe might actually make it easier to buy Sutter?