Page 151, March 2009 PEA

Here are the CAPEX requirements for startup, where the company raised in excess of ~$47m. in fiscal 2011. The costs for both Roy Lloyd and Komis were included, as well as the TMF.

Obviously they are lying to your face about costs and where CAPEX is being deployed.

source: screen shot from final PEA. Note the total CAPEX required is only ~$26m. A 75% cost overrun is hopelessly incompetent. But they also absolutely insisted that development was on time and on budget.

-F6