Dont forget the curve balls: Enviromental spills resulting in...

Dont forget the curve balls: Enviromental spills resulting in permits being cancelled, fatalities at the mine, community relations going south, political unrest can all kill what might otherwise be a good producer overnight.

When it comes to new projects, added to the above risks: Always assume they will run over 25-50% on capex and time to commercial production (because most of the time they do); this is the nature of many projects. Too many variables to deal with or a rotten egg somewhere in the management team can be the cause. Its not to say the project is a bad one, but invariably, mines are mines, and Murphy's Law and mines seem to go hand in hand.