Cj,
"Your comments about Wayne McCrea buying must mean that the resource is no better than the JORC defies belief and any logical argument"
How? If the company knows that what is in those stockpiles is well in excess of JORC, and fails to notify the public, company officers are not allowed to buy shares, it's insider trading if they do. The only conclusion that can be drawn is that there is no insider trading therefore the stockpiles must be close to JORC. How could it be any different?
For the company reps to be in China and know what to contract out, they must know what they have. Is this not the case?
The crusher...
"They could not have know of the treachery of the company that built the crushing plant, not building it to Australian standards"
The question is when did they know this? Was it before last years cap raise or after? Considering the crusher was already well behind schedule by November last year, surely they would have known something was wrong before then. All I read and was told was that the crusher was undergoing calibration and optimization, right through that period. I would have thought that calibration and optimization came after inspections for Australian standards. The 2013 annual report states "crushing circuit (550tph) currently undergoing commissioning and test ore crushing"
Perhaps that is a question you could ask at this years AGM, When did they know about the crusher not meeting Australian Standards?
Doesn't it seem even a little odd to you that they would be commissioning something not up to Australian standards? If they had already known about the problem and fixed it by then, why not tell us then instead of in March?
"that the chunks of native copper would be so big and cause crushing problems"
I believe it was April last year they found the nugget "bentelinya" that weighed 4 tonnes. Surely that was a clue to large nuggets. You can't tell me that in the next 6 months they didn't know that the large nuggets were going to be a problem, nor what the solution was. Just the name of it stated they were expecting large nuggets. I'm sorry but the 'not knowing of large nuggets' doesn't pass the sniff test, especially by November 2013.
" I supported the company in the cap raising 100% more than you, because I believe in the project, and I thought the price was ok, as it also included the options. "
Considering how few shares were bought outside of the directors, then you must be one of the largest buyers then. I stand corrected if you bought more, I do remember many stating at the Leickhardt last year that they couldn't afford to buy any more, certainly not their entitlements. You hold a lot more shares than many because you were in at the beginning I believe. Is that correct? I spent in total over $100k in shares without the buffer of holding many cheap shares.
"Your comments about rail access are so far off the mark, you need to read many more company announcements"
Years ago, again from the 2011 Annual report, is this; "Entered into a Memorandum of Understanding to lease up to 900 hectares to construct a Multiuser, Multi-purpose Rail Load-out Facility close to Cloncurry"
so in the 3 years since, they didn't finalise a lease agreement, and from the local newspaper (not the company) I believe they still don't have it in place. That is not good work by any standard. Instead of getting the lease done and dusted when they were 'partners', now they have to rely on the largesse of competitors, not smart. Plus another company I believe.
However you look at it, they don't have a rail facility in place, nor currently permission to build it, after years of implying everything was go on it!!
How is it that so many things keep going wrong, so many delays, missed deadlines and plain just changing facts (like the ore sorter going from a specially selected one in the factory to a trial ore-sorter).
Yet here on the HC forum, everyone wants to blame the shorters and down rampers for poor SP performance.
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