1 million buyer, page-14

re: catherine davey/1 million buyer 23 bid not ge I have been holding for a few years now, up 130% on my original investment. (Good timing, and time in I suppose)

Remember, they are close to commerciality and things never happen as quickly as people would like. At least they have reached the orebody and are pulling it out of the ground! They also have a couple of exploration projects that seek to expand the region's size.

How many underground mines have been able to pull ore out of the ground from their decline?

Given the extension of time on the feasibility appraisal (that was 6-8 weeks late) at the end of 2005, I wouldn't be surprised if other things are running a bit behind because of this as well. A lot of the financing and government approval would have been hinging on the outcomes of the feasibility appraisal.

There was also the mine fire (no significant damage, or harm to personnel, but a little setback) and the short period of time where the mine closed due to the bushfires in Tassie. (Once again, no damage to property or personnel) I would say a closure of 3 days might generate a 5-7 day delay in actual terms because of the time it takes to restart and get back into a rhythm or work.

Also, there is no hard deadline to complete the mine (like a starting date to an Olympic project) so delays are usually taken on the chin, because often it doesn't make economic sense to pump more money and resources into the job to get back on the critical path... You just try and improve efficiency in small ways and grab back the time you lost over the life of the project.

Anyway, if you want to know every 5 minutes what is going on, and believe everything you hear on a Hotcopper Forum (ie. there definitely will be news in March) then I suggest share investing and trading is not for you ;-)