Yes! I Am Nervous About How Good Is The PA.

We all know that Webb cannot leak any details about it, but at the New York Hard Assets Conference this May, he betrayed no sense of dread what so ever when discussing how we might interpret it. You might cynically remark that this is the earmark of a good salesman. Or, less cynically, you could say that he's more transparent than someone misrepresenting approaching doom. So, what we saw was Webb doing an Alfred E. Newman,

"What Me Worried?"

He showed no signs of worry.

I suspect, though, that given the artificially, depressed, discounted price of gold that the engineers must use in their calculations, that Webb might be concerned that without that calculus, the PA would be so much better.

Certainly, in terms of having to use only the current list prices of mining stuff in their calculation, the engineers would further put a dent into the bottom line.

Webb made sure we would see how Fortune Minerals, by purchasing stuff at a lower price than was used in their Feasibility Study, was able to greatly reduce cost.

Webb is famous for frugality. It must kill him to think retail when he's more of a wholesale type of guy. Remember the $105 per liter of diesel he paid.

Cheers,

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