power plant another red herring, page-2

When you speak to others in the mining industry CTO are thought of as complete amateurs (amongst other things too). To make statements about 50moz and no real data yet to back it up is throwing their credibility even further out the window. They have a long way to go to try and disprove this perception. I blame the MD for continually putting out announcements that contain very little but spin. Any proposed JV deal for a large injection of capital to get the mine into production,over the years has fallen over and the catch cry is it was not best for shareholders. One has to ask why would you knock back the large sums to get both Warrior and Sunburst into full production (which would benefit shareholders). I think more to the point is that the company may not have passed the normal Due Diligence checks that comes with any potential JV deal. DD is carried out by independant consultants ranging from financial position/aspect of the company to mine planning and geology (resources). Normal procedure in the mining game in relation to acquisitions, JV deals etc. No one has thought of this before on this board. It occurred to me whilst reading everyone's posts about increasing production and from going back through announcements relating to JV talks, proposals, how advanced the JV deal was etc.

I am NOT saying they did not pass but I do wonder based on their credibility issues in the marketplace.

As I have said before the project has some potential. A change in board and MD might just be able to accelerate this project. I think middle management do a good job with what little funds they have had over the years. I fear this project will just keep dribbling along unless those sorts of changes are made.