I can understand what you're saying, albeit with a lot of...

I can understand what you're saying, albeit with a lot of difficulty.

You're saying that 95% of mining companies fail in this position because things just don't work out, regardless of how good management are.

Firstly, is that 95% figure reliable?
I'm a relatively young investor, and this is one of my first cracks at a mining investment, but that statistic sounds made up.

Secondly, isn't that why feasibility studies are done? To work out whether a mine is economically feasible? The industry must be bananas if they're doing extensive pre and definitive feasibility studies and winding up with a failure rate of 95%.