Romarco Hits The Permitting Wall

Romarco(r.v) has to be yet another example of a calculated gamble that might not be paying off. It has run into the permitting process, but the assumptions are built on the same general plan of so many gold companies that their best bet is a large open pit mine. Do their drill cores really represent the deposit that they intend to mine?

Look at their float after Kinross got involved, I'm sure there are more than a few investors looking at the dilution and having a very difficult time justifying the risk.

Just the same, their PEA numbers are out. How will they ever raise some $300m. without further insane dilution? Now that they have permitting issues, they say the delay is only 12 months.

GBN.V had its permitting trouble start in 2007, and we're still waiting. 3 years min. for permitting issues if provincial and federal governments both want to see a mine. How long do you have to wait if they DON'T want to see a mine?

Mining Weekly

Century Mining Embroiled In Shareholder Rights

If you will remember, during the market darling era for the La Ronge the merger between two companies(Starrex & Mahogany) was considered the death knell for their project, despite their incredibly robust grades.

They could not raise any more money, the gold price declined, and their project was done.

Century Mining, with its 5000tpd mill, atrocious grade controls, and massive float had seen a shareholder mandated dump of the previous management only to become embroiled in a shareholder legal battle.

stockwatch

When I look at what's going on in the junior miners I just have to jump to conclusions. What a freakishly bad market for gold mining stories.

-F6