I would not have a problem with that niu if they had done what they said they were going to do over the past few years. There is a point where you have to question the capabilities of the people on the ground. Sure it would be better to invest the money back into the 2nd phase provided it could be done within the prescribed budget and on schedule. Unfortunately....based on what has happened with phase 1 it does not instill a lot of confidence for the build out of the 2nd phase to be built within budget and on time. I would say to spend some more money and time getting the existing operation up to proper speed and quality. If I see the plant operating at nameplate capacity by the end of the year, and costs at $2500 a ton as promised I'm sure I will take a kinder look at things. It will probably be the first quarter of 2017 before you can hope to be running at full capacity.....if I am wrong I will keep quiet and cheer on the team.
ORE Price at posting:
$3.59 Sentiment: None Disclosure: Held
