Mentalist123

AR1 tried to make a go of a project that has over its years of burning money, attracted a bunch inexperienced “would be miners”. From a visualaspect some mines look appealing to the uninitiated. But there are so many hidden traps in mining and producing a mineral. Metallurgy being the most important, hidden costs, mining, blasting, drilling, transport, maintaining, accommodation, machinery, chemicals, inexperienced directors and CFO, just to name a few of a thousand in total. Even if a mine has high grade mineral if the operators are inexperienced, it will surely fail. Every contractor that makes his way onto a minesite is to make themselves rich as quickly as possible at the companies expense. Let’s just say “with wealth and people trying to get rich quick, “ there comes an element of criminality” let’s leave it at that. If the CFO and directors are lawyers, accountants and are not an experienced guy in the mining industry and operates on a trust basis, then you are doomed fromDay one. It’s an industry reliable only on experienced people. It’s all about the people. If you are over 60kg no matter how good a horseman you are, you will never win a Melbourne cup. Mining is the same. Horses for courses. Lady Annie has been a disaster for the last 5 operators. Even Coal baron Nathan Tinkler who owned it before AR1 worked that out and ran out the door. Don’t worry folks, another mug will take it up, after AR1 has driven off into the sunset. Yes guys, you think you can probably write this one off, “you can’t make a silk purse out of a sows ear, no-matter how hard you try! “. But don’t take my word for it. Do you own investigation and make up your own mind. The MD has gone everything in his physical power to make it work. I will say that. In my opinion, although the MD being a competent earthmover, he just lacked the finer details and experience of the mining, transport, operational costs etc and having the right people around him. This is not a game that you can learn on the job. Everything is big bucks $$$$. It eats money quicker than you can print it. No second chances in this game. My final post on this one.