what went wrong?, page-7

Well, the question comes back to what went wrong, what information was provided to the Board and what did the Board do about it. Who was managing the project and who was managing the Project manager? At the end of the day a cost blowout of such proportion is unacceptable and someone should have gone, but who did? I didnt see an announcement.

You are right in that when you build anything, wether it be a pergola, a house etc you get a quote and that's it. If it costs more than what was quoted then that responsibility falls on the quoter - not the quotee.

Wharf raised concerns long ago, ERM indicates it also raised concerns. EGO says ERM went along with everything. Just what's going on? EGO refuse to answer questions until the AGM.

If you got a quote for the nuts & bolts, the landscaping the pipes etc then the only blowout I can calculate is these:

Purchase of the farm $1,000,000 - Spare Parts $500,000 - other safety modifications for BP estimate of $500,000 a total of $2 Million, not the $13,000,000. EGO, through its steadfast refusal to answer questions only raise the ire of its members and its just not good enough.

This company has had over 75 captial raises through share issues. Where is the financial and project management of this plant? We have received such scant information it is just mind blowing.