1- never under-capitalize/underestimate your project capex requirements (better overestimate than underestimate), MZI touting keysbrook as a 60M$ low capex project was extremely foolish, they ended up 3 years late ramping up production, accumulating 177m$ of debt in the process and still 20M$+ of capex upgrades yet to come... They probably thought it was right at the time.
2- management ownership of junior companies provide important incentives for the creation of long term shareholder value. MZI management not owning significant amount of shares and hence not sharing risk with retail shareholders was detrimental to all management bad decisions regarding the keysbrook project from the very beginning. Management interests were simply not aligned with shareholders interests.... Totally agree with you. Skin in the game is just so important.
3- Grade is king. (how many times should we, small retail shareholders, remind ourselves of this mining-truism ? I guess not enough...) Yes it is, but metallurgy is just as important and that's probably the greater issue here.
4- be wary of hidden risks of new touted technologies/processes/minerals to extract (extracting leucoxene wasent easy after all). That was always going to be a problem.
P
MZI Price at posting:
2.4¢ Sentiment: Sell Disclosure: Not Held
