The CR was to fix the mill which hasn't worked from day one and was poorly designed . It needed $20 million spent on it, but they gave the impression it just needed a tweek or two. They did not include a DMS curcuit and i suspect there is no gravity concentrator. I doubt if there will be any breakdown of expenditure as that would be too revealing for "management", because they fiddled around for 18 months instead of fixing the problem . There will need to be new management before I buy back in. It is beginning to look a bit more like a rerun of the DNK fiasco. A good project has been stuffed up, perhaps like DNK, the Chinese will soon be circling to see if they can buy it at a big discount to NPV?
E25 Price at posting:
90.5¢ Sentiment: None Disclosure: Not Held
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