Great post, Benerick. And no need for lube in my case. The fact that I'm still in CAS shows that I'm into pain.
its all very disappointing, and I dont know what the answer is. Borborema?
I dont know if we really want Borborema just now......what would that give us?
Besides hundreds of millions $$$ in capex, more years of regulatory wranglings to get a mining licence (look how many years we spent wrangling over stupid obstructive requirements to get Posse going).....more feasibilties.......dont we have to shift the highway? And water....there was no water available for the mine, and there had been negotiations to try and get a supply from somewhere....I havent heard the outcome on that. Where will the sp be for years while all that is taking place. Unless the IFC gets involved, I cant see a pretty picture......
I had hoped for a spike in the SP that would allow me an escape with some dignity, but that looks unlikely now.
Yes, we do seem to have a very large and expensive board and management structure...and that will only grow.
Borborema was historically a leeching operation before we acquired it, and years back, I suggested we do a heap leach to generate cash...that got howled down as stupid, literally. "We're gonna have a great big mine, with a great big plant, you clown." So we finished up with nothing so far...nothing but words.
Juruena? All we see is the same selected "bonanza grades" and selection of drilling results. I dont really want to see the "unselected" results, lol. Maybe it will get better, maybe not. We once had great expectations from our Espinharas project, with great surface indications, that amounted to stuff all underneath.
Who is going to dig down 80 metres or so for a"bonanza grade" of half a metre at even 135g/ton, or whatever? It would be somewhat diluted by the time you mined it. And does it pinch out within a few metres, or what?
It was said that a resource was going to be estimated on finish of drilling at Querosene.....dont mean nothing. You can estimate a resource, but it doesnt mean it will be economically mineable.
So, what can one do? Take one's losses and run? Not an option, because you cant sell the blasted things....I would have loved to have sold at 25c, but there were no buyers...
And so we wait, and hope.... for what?
Go back 6 years or so on the HC CAS thread and compare the sentiment and hope back in those days to the sentiment now....everything has turned to sh!!te.
Meanwhile, have a great (as possible) Easter, guys.
GZ
