Really interesting viewing this from the sidelines. Some really passionate shareholders and more cautious people pointing out the flaws and giving warnings that are not really listened to.
Personally I would love to see them succeed but they are honestly just mucking around milking shareholders for cash.
Tasman mining is another small outfit. They got agreement with Oceania to develop Blackwater. Vaguely similar narrow fine, underground mining around historic workings.
Oceania got the permit in 2014. Spent $18 million on exploration. Couldn't make it work so farmed out to Tasman Mining in 2018 who say it will be about $70 million to develop.
They went and got PGF funding:
https://www.beehive.govt.nz/release/...gets-pgf-boost
And recently indicated they have secured a funding partner in the Westport News and once they get OIO approval are away to the races.
2 years. From negotiating the permit with Oceanea to having enough cash to actually develop the mine they spent 2 years.
Perhaps everyone can draw their own conclusions.