Names, you have to take my statements in context........ James had quoted $30 mill in sales and only $8 mill profit for Cabot.
Now if we have to put in a boxcut, portal, decline to get our little bit of C out, the end result mightnt be too attractive. All that doesnt come cheap.
And Cabot is dealing in the finished product. God knows what will be offered for our ore....... and what it will cost to get it out?
My joke about Mickey Mouse was just that... a joke to emphasise uncertainty.
I spent most of my nearly 60 years in the work force in mining, exploration, and transport, and boy, I've seen some projects unglued. You just never know what surprises can arise. The lack of progress , to me, implies uncertainty.
With some companies I worked for, any significant near-surface gold discovery was mined out and through the mill in a matter of months.... sometimes too soon. In one case, a rich gold laterite deposit was dug out in no time, and then deeper drilling found ore 20-30m underneath. If that had been done earlier, the laterite would have paid for the stripping down to the ore. Seeing that was gone and spent, that deeper deposit became uneconomical. Crazy, eh?
Sure, those days you didnt have the current delays in acquiring permits, but still.
Guess we will see.
But if Crookie doesnt come up with anything positive on C, I'll wipe my bum with PIO shares .
GZ
PIO Price at posting:
1.8¢ Sentiment: Hold Disclosure: Held
