Re: Observations...Macod
in response to
by
posted on
Apr 02, 2012 09:22AM
(Edit this Message from the "Fast Facts" Section)
Blunders:
Mining is capital intensive and the regulators can impose their will on people. Case in point...MSHA; Another mafia run organization set up by the government to bleed people of their capital.
The Bill Earls who gave their word he wouldn't sell their shares but did anyway.
Roger Scammel came in and added an additional 1800 acres and more to come as soon as drills hit their marks. More claims coming. However, Roger's wife is ill...his family comes first but he is still in the picture as a consultant. He hasn't sold off any of his shares.
Miners of the past did our work for us saving us roughly $300 million dollars. To drill out the Sinker Tunnel today, the cost is $38,000 a foot. The dump tailings are helping us finance the milling operation. Huge savings....think of what a miner is paid per hour today.
The Mill is set up...they're smelting their own concentrate. Management thought they could get away without a cyanide leeching system. Now they plan on moving forward with one.
Personally, no business is ran absolutely perfectly...all have mishaps and missteps. We are all human. However, I truly believe PQ wants SFMI/GHDC to succeed. Only a fool would think otherwise. PQ is 74yrs old...this is his last painting. He has his family involved and I have heard, CQ is doing a good job at the mill. DQ will soon be stepping down from the BOD.
You have major mining operations looking at us...either for us to go bankrupt so they can swoop in or waiting for the drilling results so the majors can come in and make a bid on the company. If SFMI has the capital backing them up and see the vast wealth of WEM..I would think bankruptcy is out of the question.
What I gathered from the posts in here...SFMI has the backing.