Having read the material posted on the 3 Amigos website, against the letter to shareholders released by today by Darryl, I'm more convinced than ever that the Amigos 'plan' is just pie in the sky.
They talk about $35 million in revenue after toll treatment. But how can they come up with a number like this without a resource model to work from? This is just nonsense. These figures can only be wild guesses.
And they talk of $2 million in capital costs. In his letter today, Darryl says these would be $7 million at least! I'm sure the current directors would have done the analysis for toll treatment based on the facts. The ones on the Amigos website are based on what?
Further, the Amigo's don't talk at all about the risks associated with Toll Treatment.
I would urge Darryl to put the real numbers for toll treatment at Barlee on the table as soon as possible. I bet London to a Brick, they'll present a picture far different than that painted by the Amigos and further demonstrate the folly of supporting their challenge.
BCN Price at posting:
0.9¢ Sentiment: Hold Disclosure: Held
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