KOR 0.00% 0.9¢ korab resources limited

That was an interesting interview and he promoted potential...

  1. 127 Posts.
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    That was an interesting interview and he promoted potential return on mining the raw material very well. Sadly however, potential return on todays numbers is being delayed to a point of irrelevancy.

    Lets take a look at facts:

    • There has been zero progress demonstrated on the MMP or its predecessor. Primarily this may be attributed to a company that did not have a defined scope of work.
    • The scope and environmental complexity of the revised scope ( Mine and refine) requires a more comprehensive environmental consideration.
    • The inception phase planning of the infrastructure work has been increased beyond environmental issues but will be a red flag to an agitating movement that spends lots of leisurely time in the area during the dry season.
    • Well managed large projects take a year of inception, then design phase, sourcing, construction and commissioning. 90% of value opportunity is created and protected in the inception period so that year is crucial. Even then with experienced staff there are unknown unknowns and political influence that cause problems usually with time and finance consequences.
    • This company has zero experience in the infrastructure game and has been incapable in early MMP work.
    • Oxford Uni suggests four risks account for almost all project overruns: inadequate definition of scope, inadequate understanding of risk, staff optimism bias and fudging figures. We have three here demonstrated, to date.

    Bottom line is that the delay in achieving these fabulous profit opportunities from mining is now likely a further decade away and market will make current number crunching an exercise in futility.

    It would be great to be part of a journey that sees Australia become capable of refining its own raw material and also be independent from market manipulations outside our shores. Its an admirable aspiration but based on established history it cant happen here without a very heavy influence from a well credentialed and capable partner.

 
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