Jackapit,One of the biggest problems for the company IMO was the...

Jackapit,
One of the biggest problems for the company IMO was the fact in the end they didnt know where to mine. They had put the infrastucture in place with a new winder and the gravity feed gecko plant after many issues however they were mining the dickenson reef at low grades (for UG mining) which were not covering costs.
Whilst I have never spoken to Nick many on here reported that he didnt want to prove up a reserve with a JORC because of the cost involved and I think that was a huge error. No point having all the gear when you cant find the grades. I think they just took this part for granted.
It was also discussed here that quality airleggers would be hard to come across to chase the veins. From other companies I follow or invest in they model this rather than mine and hope.
The fact they only mined a small amount of ore also didnt help the scale. The company didnt give too much info in this department either.
From what I have read I think gold could explode over the next 12-18 months which may bring some money back into the sector and therefore the company. It will have to be reletively soon if they want to survive.
I have had some big investment learnings from this company!