In 2010, Minemakers was in the same boat as LGDI, granted on a slightly smaller scale. Lets take a look at what happened.

Minemakers used their cash to find proven assets. By 2010, Minemakers was out of money, they had only $6M in cash and were trading at a historically low price (for them) of $50M. They came out with a feasibility report, the conclusion was a net present value of about $100M.

After the feasibility report, Minemakers entered an MOU with Verte for Minemakers to receive all funding required for development (a few billion, they have a much smaller plan with less mine life and selling rock with less beneficiation). For the debt, the investing company would purchase 50% of Minemaker stock at a premium. Minemakers is now double and has reached the $100 estimate net present value of the feasibility study. They are now also listed in Africa and process to list in Toronto is nearly complete.

in 2010, phosphate prices were significantly lower. Please post more precedents, negative or positive.