funding by chillee 10 mill..., page-17

Hi greystone,
You have nailed it. The development costs you mention are for tasks that have been on the drawing board for some time. Costings for these activities should - for a management team worth its salt - be relatively easy to do.

MCO management have certainly laid out a strategic vision for their mine. Vision is one thing - executing it to plan and budget is another. This is where management earns its money - executing to plan. MCO are miles off plan. In fact, from where I sit there is a disconnect between the strategic vision and the means to execute it.

Im getting seriously tired of mining firms that persistently resort to cap raisings to get a project up & going. It smacks of inexperience &/or laziness. Ive been down similar roads in another engineering discipline many, many times. Each time I have witnessed it I can point to inadequate risk mitigation. And that lesson only comes from experience, that is, being bitten on the ass many times before & learning from it.

I now feel these fellows haven't been bitten on the ass before, hard enough & frequently enough.