So, next up at Nowa Ruda as far as proving economic viability...

So, next up at Nowa Ruda as far as proving economic viability goes, it's "either a Scoping Study or a PFS" in 2015. It was going to be a Scoping Study in May 2014, then a Concept Study, then a PFS in late 2015, and now a Scoping Study or a PFS in 2015. Why the ambiguity and when in 2015 will we actually see something that proves that NR is actually economically viable? BMB has been drilling for 14 months!!

I guess the following shouldn't be a surprise, given the tiny JORC of 23Mt at Nowa Ruda. It's a pity we had to wait 8 months after the Scoping Study was actually due to find out why it didn't happen back in May 2014 when it was first promised. Better late than never I suppose, but more transparency would certainly give these guys a bit more credibility........ So are we to take it that development at NR has ceased until the current drill program proves that it worth continuing with??

"Previous efforts to conduct a meaningful Scoping Study at Nowa Ruda did not deliver the required result due to incomplete drilling and associated understanding of the ore bodies, hence completion of the current drill programme will become the catalyst for further development at this Project."


Balkans
Really, .... BMB didn't even get the $50k upfront payment (already revised down from $75k)??

"Balamara announced the sale of its three Balkans base metal assets (Monty, Varesh & RSC Projects) in the last Quarter, to a local European private consortium, for $15 million in production royalties. "