acturtle - you have made some very good points and agreed that if the deposit is too small to justify its own plant then its value is limited if an offtake agreement can't be made at an acceptable cost.
To say that an 'independant expert' report is gospel though seems very strange. Who chooses and pays this 'expert', the company? I see a conflict of interest here already. What makes this person an expert? Did the 'expert' actually do the work or a wet behind the ears grad from the firm?
I object to your comment that this expert will know more than shareholders - you don't know the background of the shareholders. Many shareholders in resource companies do have a strong geological and business background so may well know more than this company hired 'expert'. I certainly have a degree in geology and a postgraduate business degree and can see some fairly serious issues with this 'expert' report. Its just another effort to convince shareholders that the GGY board actually have a clue what they are doing.
If the deposit was too small to develop economically why state their intention to do so, state that this deposit is the company maker? Why will nobody now return shareholder emails or phone calls?
L
GGY Price at posting:
0.0¢ Sentiment: None Disclosure: Held
