Re: Let's face it. Dave Webb's IR Would Be A Hard Act To Follow.
in response to
by
posted on
Jan 30, 2012 09:41PM
(PRESS PROFILE TAB FOR FACT SHEET & UPDATES)
Baires: Sorry I missed that important bit of information. GT says the "lousiness" of the PFS was on the cost side for the mill, the non-inclusion of ounces that everyone knew about, and no criticism of the drilling strategy?
The mill design and the non-inclusion of ounces are correctable in the short term, and can be easily fixed in the FS, and I remember the non inclusion of ounces at least was discussed and explained at the time of the PFS. Therefore one would think they would not be too serious and would be easily correctable for most companies without trauma or disruption as we have gone through.
But the drilling strategy is both an irretrievable sunk cost and it forms the entire foundation of the resource base, so therefore it is a much more major issue.
Well, maybe the first two issues were enough to sink DW and the others, and to sink the SP as well, but I don't think that's the whole story. Ike