Ann: POS: Poseidon and Empire enter into an MOU, page-20

It's good to hear those figures.. ..
But I don't feel easy ...apart from forgetting what was said at NWH about costs I was also going on research estimates from a full on underground mine employing 125 workers last year where the costs over two months came to $3.7 million dollars.

"WPG and Diversified Minerals bought the mothballed mine from Kingsgate Consolidated in March for about $1 million. The operation, which employs about 125 workers, was restarted in May at a cost of about $3.7 million to the end of June."

The differences ? Empire drew $2.56 million in the 5.5 weeks between 21 March and May 5 before they started drilling (why?)
Then spent $2 million from May 5 to end of August (about $117,650 per week )
For WPG last year the spend was across just 5 weeks (I checked) costing $3.7 million ie $740,000 per week ( NB spending this much they were pouring gold within first few days )
They were paying 125 workers and expenses were around $6000 per worker per week ... if the same ratio is applied to Empire we should have had about 20 workers on the job
But on a busy day in July when they took their publicity photos there appeared to be just three http://imagesignal.commsec.com.au/d...nZXNpZ25hbC9lcnJvcnBhZ2VzL3BkZmRlbGF5ZWQuanNw

And about the same number of vehicles.
Something is very wrong