Kaiza,
I went to the mine once back in 2010 or 2011 when I was living in Townsville and they organised a meeting at the mine for shareholders and we were shown through various operations. The place was almost in mothballs and I was not impressed. I do not have mining experience.
What I do know, and it is available throughout reports over the years is that the ore is in veins and a lot of digging is required to get to a vein - irrespective of how rich it is.
So much has been sold off over recent years and as I understand there is very little plant or equipment left.
The CEO has a contract until some time in the mid 20's for an income in excess of $600k per annum for a company that is not operating and with no income!
He is now talking about obtaining finance before the end of this calendar year?
We will wait and see!
Regards....................
Kaiza,I went to the mine once back in 2010 or 2011 when I was...
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