new issue, page-29

Heeman, if they managed to deliver/send 3mt per annum they would have been debt free ( or close) in the first year. They now have to deliver a bit more so not all bad, I think this is a great buy price. Probably the last opportunity to get these at this price.

The thing that made me cranky was the company telling everyone how good they were at building the road and developing the mine and putting out glossy updates but as soon as that first ship was delayed the communication stopped. It was almost like they thought no one would notice.

A mate of mine mentioned that he thought the barging was a potential problem and I dismissed him saying:
- they would have done numerous test runs with the barges?
- they would have a contract with liquidated damages for the barge contractor?
- they would not have gone to all that effort and spent all that money and not had that major component of their supply chain totally under control.

Well he was correct and I assumed too much!

I am now interested again at these prices but I feel for those that are 50% down.