Re: Your quote -
“CVS seems to have a handle on this whole new project but no one can predict success. Only CVS can evaluate their chances for success because they are on the ground and have access to the data that is being produced.
CVS would be better off to mind the gold and not the investors. V SHALL C!” End quote
The following is an interesting opinion(s) based on reality! U know, based on facts! The article is 3 years old but worth a read. Should CVS try to mine any gold they might find?
Quote “With regard to the 28 companies that became producers, only ten of these are still in the business of mining.
Five of the companies were subsequently acquired and four closed down their mine and reverted back to being an explorer. The remaining nine companies went into administration.
Putting aside those companies that were acquired, 13 of the original 28 companies either closed down their mine and/or went broke. In many cases the company went into administration within one or two years after start up.
The key message from all of the above is that junior explorers are remarkably long-lived and resilient.
Ironically, the riskiest thing a junior explorer can do is actually find and build a mine! Half of the companies that became producers failed at this step.
The author’s view is that many of the failures are caused by the company committing to what is often a marginal-economic project (at best), without doing the necessary thorough technical studies and detailed risk assessments beforehand.
Often the company’s cash reserves were inadequate to weather any cost over-runs, delays in mine start up and/or adverse changes in commodity prices.
Furthermore, management often lacked the necessary experience in building and commissioning mines. Many of these problems can be minimised through good planning, disciplined investment criteria and having the right management team in-place.” End quote.
Does CVS have the right management in place?
https://www.ausimmbulletin.com/opin...l-performance-of-australian-junior-explorers/
