analyst reports & boadroom radio available, page-5

Exactly - we are probably both fairly patient types otherwise we would have been out long ago. A lot of investors do not realise how long the average time from discovery to production can be.

Just to add a different perspective.........

In a previous life I was involved in R & D in the Pharmaceutical Industry and in a way there are remarkable similarities to mining and probably a lot of other industries.

It is all based on intensive project planning

Searching and Discovery of a new drug
Intensive lab work to define its characteristics/specifications/analytical methods
testing of its pharmacological effects and toxicity in animal models
Intelectual property protection
development of suitable dosage forms and lab and clinical trial scale manufacturing methods...reems of documentation covering procedures, invitro & invivo analytical methods and validation.
Funding for initial project and ongoing development(need to seek partners from Overseas???)
3 phases of human bioavailability/pharmacokinetic and clinical testing in humans to statistically demonstrate safety/efficacy/dosage regimens
Indications for use
Marketing partners
A raft of regulatory approval processes
A raft of marketing/feasibility studies to support continuation at various project stages
Scale up and validation of manufacturing to comercial production.
Approval to market in various countries
Sales and Marketing
Control of costs
Value adding - new indications for use or improve formulation
Post marketing surveilance
Profits to fund further discoveries

This is just of the top of my head (in probably a suitable order)to demonstrate that like mining projects there is so much time management and step by step activities involved. Like mining only a very small percentage of discoveries ever get to market.