cdo update, page-32

Mine plans are dynamic and are (unfortunately) not required to be released in full detail to market participants (in Australia). If the MGB have an issue with compliance, it is up to them to act on that. They have their own triggers and schedules for reporting.

Things that are required by public reporting include resource and reserve statements, which take into account a host of factors as previously discussed on this forum - that are also a component of mine planning. So there is a lot of overlap there, which could be tested for compliance by Australian authorities.

It is oft said that the pathway from explorer to miner is difficult. The Siana development is perhaps a perfect example for the textbook to demonstrate that point.

One of the most commendable milestones in the early days, IMO, was the way the deposit was drilled out. A significant technical success given the constraints. And naturally there have been other positives. But in the main, the development pathway has been like riding a skateboard downhill on a gravel road, with plenty of lost skin to prove it.

Eventually, the production rate was reaching levels, where had it not been for the bear market in gold at the time, I too would have bought in (again). I think there was a fair amount of optimism amongst people with an ear to the ground at that time. I recall posting a "heads-up" on this forum.

However..... very soon after things appeared good we are notified of structural failure in a dam wall failure. One of the major differences between the current debacle and the host of previous operational issues (sans conspiracy theories) is that the current problem introduces a pile of sovereign risk that was not previously there. Amongst all the other in-depth analysis at the time I highlighted that issue, and eventually the punters have accepted the risk and the market has duly priced it in. IMO, that is the main issue for current holders.

Moving forward towards right now; the current flooding, IMO, possibly introduces yet another potential obstacle as flood factors may more heavily influence MGB's approach on future developments with tailings containments, and their locations, than would perhaps otherwise be the case. My conspiracy bent (if it really is one) points towards the motivation of the upper levels of the DENR and a hidden nationalistic agenda. But I have reasons that have nothing to do with any listed shows to be jaded in that way.



Sadly, there are many affected here, each with their own motivations and focus on the future. Hence the colorful nature of this forum, yet there are so many other perspectives that have no voice here at all. One thing I don't understand is the support for employees in posts, yet there were TU's in some posts bagging them for campaigning outside the MGB a few weeks ago. But then again, such polarised opinion is understandable given what has transpired.