Here's my two cents on recent developments I think the fact that...

Here's my two cents on recent developments

I think the fact that the capital raising has been successful in what is a horrendous climate for gold mining companies is definitely a positive. No one can really argue that the cash wasn't desperately needed, but I agree that without the large number of directors who are getting paid for doing very little, it wouldn't have been half as large. The fact that retail investors or current investors weren't asked to participate probably indicates that we are on the cusp of having the mining lease granted. The adage that "your broker will never invite you to participate in a capital raising if there's easy money to be made" rings true. I think Bizzell Capital is probably dishing off the shares to favored clients, we certainly haven't been offered any but they are available at market for the same price anyway.. Unless of course you want to buy a lot and I think those of us on hot copper are abit beyond handing over large amounts of money when so little has occurred in the last three years.

Even once the ML is granted the economics are uncertain. Sending a metallurgist to the different toll treating facilities to assess their suitability sounds great, its a bit of a shame that they are keeping us in the dark about which facilities are being assessed. High oil prices could be very bad for us, surely potentially catastrophic, even EOPL was almost 100km away, how many mills could there be that may be assessed as economic if they are even further away ?

Looking at the resource, we have indicated, inferred and then the high grade subset. Usually a high grade subset like that would be in the measured category, most goldies I follow establish a measured category before the onset of mining, not sure why that hasn't occurred.

Not really surprised people are bailing out or getting angry. You only have to look around at what other mining companies accomplish in 3 years and you can see what can be achieved in that sort of time frame. And damn we seem to be pretty top heavy on the management side of things. When I spoke to Paul Marshall in March he said they were hoping to start mining before the wet season, which seems to be the rote answer we get, same with the year after year of delays, having said that we haven't had a capital raising so large in 3 years, lets hope its not going to go towards a pay raise for them !!

Anyway, we go back to waiting, hoping that this cluster f#$k turns into a golden goose...