Beside issues with mud balance, there was a problem with the mud tank agitator. By the poor side wall core analyses results, it is clear that mud overbalance and mechanical problem have completely screwed MK-1. With this scenarios and for safety reasons, I can see SM playing the safe bet and going down way overbalanced all the way.... Possibly the side-track was money thrown to the wind, but hey! Here we are now. I am sure this time won`t be a repeat of MK-1 regarding decision making operations. SM has already hinted that is taking a step back on that front, to allow the two new directors to take over. Is likely that this was a prerequisite for John Bentley and Robin Sutherland to join the company (my speculations..) I am not sure if SM has learned from some of his mistakes or not, but better be safe than sorry. Also John Bentley and Robin Sutherland must have some connections in the industry, if MK-2 comes good, that will further facilitate a parentship or take-over, beside the current enquiries already received by IVZ.
IVZ Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
