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14/04/23
15:45
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Originally posted by eastwest101:
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Something very suss here with an "Operational Update" followed by complete radio silence, and then a surprise CR and no mention for the cause of the "Operational Update". So which is it? 1. Operational problem on-site affecting production --> incompetent management 2. Sudden surprise that the coffers are empty ----> incompetent and untruthful management Using a process of elimination maybe we can guess? A) Wet weather interfering with trucking/airport/logistics etc - unlikely and news would have leaked out somehow & doesn't explain CR B) Done a mill motor or some other crucial equip.- possible if a long lead item without spares - might explain how an Op update becomes a CR? C) Geotechnical problem with underground decline/portal - would have meant mine evacuated & news would have leaked by now D) Some left field accounting problem or dispute with completed construction contractor resulting in sudden cashflow crisis - means that the first Op Update announcement was a fib or an attempt to "buy time". E) Unexpected high grade ore discovery - not sufficient for an Op update or a CR F) Safety/environmental incident resulting in regulatory shut-down - news would have leaked by now G) The Papora Wisdom is due to arrive at Port Klang in Malaysia on the 18th April - anyone seen it yet? Open to other ideas but there is a limited number of thing that can happen to a brand new underground operation be worthy of an operational update which then becomes an emergency surprise CR without news leaking out via the workforce or locals.
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If the operational update is to start extensive drilling to extend/update mine plan. That would be an operational update and requires a CR as funds have not been allocated for exploration drilling to increase resource that would allow mine plan to change.