Since Koolmule brought up apples and oranges...

You said, "We had the funds to drill HM, but we wasted them in Ak."

The Alaska project had the most immediate prospect for returning value to investors.  It was lost when the early onset of winter ended the drilling program for the season, leaving the company no way to finance continuing operations.  Thereafter, a promissory note came due.  The company could only pay it off by surrendering the claim to Northern Dynasty. That is when the company's focus necessarily shifted to Hay Mountain.  Alaska was gone.  

Saying that we wasted money on Alaska - money that could have gone toward Hay Mountain - is mixing apples and oranges, if not putting the cart before the horse.  

Sometimes, cliches provide clarity in the simplest terms, don't they?