Re: Edmt Meeting
in response to
by
posted on
Sep 21, 2008 09:19PM
Producing Mines and "state-of-the-art" Mill
"Gary answered every question and showed incredible patience with one lady that kept asking (shouting) uninformed questions."
Yes well given people have watched their investment in LBE fall to basically worthless in the past year, this lady probably should be given some lee-way, as this "shouting" could be construed as a natural reaction from someone who probably has lost a good chunk of her net worth. What "uninformed questions" was she asking? Like - what the heck happened to the market value of our stock? Why did you not raise more money when you had the chance in a hot market given you knew we would need more capital down the road? Why was our head geologist posting stuff about ISM on the bullboards when he was supposed to be focusing on his job? How the heck are we are going to raise any money or find "debt" financing of $5 to $10 million to bridge the next few months when the US capital and debt market is experiencing its biggest melt-down since 1929? What happens when/if we can't find the $5 to $10 million we will need? Why were we told that we were going to be over 1,000 t/d production over a year ago and we still are not there? Are these some of the questions that were asked? Just curious. These are questions I sure as heck would want answered.
I am surprised that there was only one person who was asking "uninformed" questions, and that Gary didn't walk into a room full of people standing beside a vat of boiling tar and a giant bag of feathers. You guys really are a patient bunch, and that has to be worth something, at least I hope it's worth something.
I am intrigued by the reports that the economically extractable ore cut-off for LBE may be as low as .4%. We've had a few parrots on the ISM board squawking almost non-stop about how ISM's ore is not economic. This is definitely a new development that hopefully will staunch a bit of the ooze from these negative nellies, but I doubt it. They have too much invested in their mis-guided quest. Such is life.
BEER