The basic problem is that ARD will need about 80 million or so to build a plant, pre strip and commence production. With cash costs at $16 or so per ounce of silver it will be hard to raise funds at the current silver price. I estimate ARD have about 1.2 million in the bank and I would hope and expect these meagre funds to be directed to where they are efficiently spent for the benefit of shareholders.
Notwithstanding, the current MD has made important changes, is eloquent, and not withstanding his lack of expertise in the mining industry I'm sure he is a quick learner. But costs are what they are and the price of silver is what it is. He can't change that.
So I would agree with you, it will be some time now before the first dozer touches the earth, but any information you gather will be most interesting. I'm sure most shareholders, including me, are positive for ARD in the long term. As an aside look at CDU where the dozers are piling up dirt every day.
Good luck, you live in a beautiful part of the world.
Not investment advice, please do your own reasearch
ARD Price at posting:
3.9¢ Sentiment: None Disclosure: Held
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