Grandpa, of course it looks good. Clive talks a good game, and you and I've danced this jig before. Please be careful with putting too many Bema eggs with "crescent markings" in your gold basket.
Clive's comfortable with the gold game in Russia? He's damn near the only "little guy" who is. One has to sanely ask themselves why!!!!
Any gold op in Russia has 3 BIG problems...
#1) the Russian government is the ONLY customer and they buy so far back of spot it isn't even funny. Last I knew of was $200 pto. and that was when gold was north of $400.
#2) the Russian cap ex cost are horrid and will be paid in US$, Russia needs our currency so darn badly. It will be the Russian gov't and the Russian military who will build the mine for Clive if he gets that far. And he should remember what ME did to us after we build their oil refinery "branch" in the 50s. You say history doesn't repeat?
uh huh....
As an underscoring footnote to this point, I'd remind you that in order for GM and others to get their hands on the PGMs needed in huge quantities for CConverters, GM et all were blackmailed into building/converting factories over there just to get ANY supplies.
#3) the Russian Orapellieur has been trained for decades to mine in THIS fashion: xxxx hours for the company, and freedom to work INSIDE THE MINE xxxx hours for himself after his shift. Otherwise, there was NO labor pool for miners. I doubt Clive can change that mindset and "labor/mgmt agreement" so ingrained in their historic mining culture.
Clive is a wheeler-dealer and he's being set up for being torn a new A/H by some of the best reamers in the world.
Oh, yeah, Clive can show drill results until the cows come home, but...and it's a big buttttttttttt...
IT ISN'T GONNA BE DRILL RESULTS that pays the piper nor benefits the shareholder...there is ONLY one group that is going to come out ahead on Clive's comfy Russian dealings...and for a change it's NOT going to be Clive.
Couldn't happen to a nicer (NOT) CEO...but man, oh, man, do I feel sorry for the shareholders!!
This is NOT a capitalistic country nor capitalistic economic model over there. Taking all the risk and getting all the rewards let alone sharing it with a bunch of faceless nameless penny stock players in America...not while I live and breathe. You did say, Russia, right? The one where the head of the KGB is "President" If I tell you, then I have to Kill You Putin?
Couldn't happen to a nicer (NOT) CEO...but man, oh, man, do I feel sorry for the shareholders!!!
Let's just keep talkin' grampa...you're a smart old bird and I've always admired ya...but do be careful, ya'hear?
I keep checking in here, hoping the old Russian blackmarket dude who used to post on Prodigy Gold-XAU board will pop up. He sure had some eye opening things to say from his "local" perch on the ground over there and in this industry. Maybe he'll show up here if it gets too exciting. He sure was a well respected poster.
O/49r
PS....And say Hi to those Grand Babies...how old are they now? I now have THREE...YAHOO!!! 7, 11, 13 |
