"they need millions to get any where near a full production gold...

"they need millions to get any where near a full production gold mine"

Please outline/itemise what these millions need to be spent on.

"MCO failed and went bankrupt after spending millions on morningstar mine"

That is right MCO have already spent 10s of millions getting the all the infrastructure in place to get a mining operation underway. So it is peculiar that you are using that as a reason, as it actually proves the opposite point to what you are trying to convey.