The mine was never develop on time. It was another milestone...

The mine was never develop on time. It was another milestone they missed again.

It was suppose to be up and in production about 18 months ago but record rain fall with no back up plan to deal with it, delay in building access road and i think the sag mill being delivered by barge was delayed at the time, pouring of concrete was delayed for months and by memory the last part of the plant, the electrical took lot more time then first thought. They had to bring in more electrical contractors

After that the site office/accommodation build was delayed also.

It would be easier to name the targets they did hit. Ummmmm????????????

As for the mine being on budget. Well, that all depend how you want to do the accounting for it . Reality is, they have spent money past few months on fixing problems , then they havent hit the budget forcast, but from a accounting point, these issues are not seen as part of the build and leads share holders to believe its on budget.
The pudgy ore and silt they should have know about a long time before it became an issue and should have been taken in consideration when the plant was built, instead of ongoing running issues and delays.

If they can sort thru the mess they have made, it will be profitable. The problem they have is their credibility. With so many problems hampering the mine and every milestone missed, there will be questions about the cost to mine at what they have quoted.

Will need a few full production quarters to see the true cost here.

Time will tell and there are many poster on here that bought on promises made years ago. Some have sold out and watch with interest because of Management and some have stayed hoping every quarter will be the pay day they deserve for investing in the company.