Does anyone else here wonder if merging Boxxer and Desert Fox into one public entity is a good idea?

No. I am very glad we didn't have anything to do with BXX if only because I would have forever been suspicious that it was just Elmer unloading a dud on us. I think this is a very good deal for BXX. They lose a significant portion of the property but someone else is going to pay to do the work and move this along. Given they couldn't go to the market for more funds, this at least gets them moving.

What Elmer appears to be doing with Desert Fox is buying into projects that have already had some significant exploration and are closer to a PEA. Carmax has already been drilled up and Elmer gets to do his favourite thing of going deeper to find higher numbers.

Van Dyke has already been mined, but once again Elmer seems to be talking about going deeper to find more value. The project is much closer to a PEA than when he started with SC. Once he gets a PEA, he's going to look for a JV partner to pay for further exploration.

I think Elmer learned from SC that he didn't like being bound to the contract that required him to produce a FS. It cost huge amounts of money to get us to that point and if he didn't actually cross the line and produce the positive FS, he would have had nothing.

He's looking for projects now that are closer to a "liquidity event" in the sense of being able to find a JV partner with money or actually sell the project off.