Reads like SNS gets the Sun property if AOX can't repay the $2M loan. Sun sounds like an interesting prospect alongside the Ambler project where Novagold found promising mineralization.

I haven't found a single commentary supporting the SNS/AOX affiliation so I am left with the impression that the collapse of the deal is a good thing for us (investors). The fact that the deal came apart so quickly suggests inadequate diligence on the part of SNS management and (at least to me) the sudden departure of Tom Fudge suggests he didn't want anything to do with it either.

What has SNS accomplished ?

1. SNS telegraphed that it's FOR SALE BY OWNER. Maybe a stronger buyer/partner will be attracted to the deal - some have speculated that Silver Wheaten might take a more active role. I would welcome their business acumen and financial access.

2. SNS lost the very capable and experienced Tom Fudge at a time when such people are as rare as hen's teeth in the mining industry. In addition to his talent and knowledge of the territory, he always spoke highly of the mine's future prospects. How can they hope to come close to replacing him ?

I'm certainly not selling at 8 cents - hanging on until they signal their next move.