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Gold/Mining/Energy : Silver Bull Resources, Inc.

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From: shelby3	7/29/2008 11:13:47 AM
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This is horrible news! Thus their capex will be 5 (or maybe 2-3 due to economy-of-scale) times higher, and they will be delayed another year or more. And it means they were not going to be profitable enough at the underground mine scenario. They try to paint it as positive, but if you read between the lines, it is a BIG FAILURE!!!! "...Since underground mining may not be conducted, the planned test mining program is being suspended until the open pit possibility is determined..." I suspect they have run out of money to do test mining, and thus next comes the announcement that they raised money at low prices again.

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