Charred forgive me if I sum up your and other bears' earlier comments, as follows: the economics clearly stink, the grade is uneconomically low, CC will never be a mine, the IRR is
unattractive, the overburden is ridiculous and prohibitive, the
prefeasibility is wrong (or worse), the metallurgy is undesirable,
etc. All of this was READILY apparent to the merry Bema bashers sitting at home with their pocket calculators and dusty Geology 101 texts.
What I can't figure out is why Placer's somewhat knowledgeable CEO and board would now commit to spend $15,000,000 of their earnings drilling the deposit? Why would their CEO publicly beam about how excited he is to get started doing this monumentally wasteful and hopeless activity?
Why would he pay for a feasibility study on an obviously uneconomical deposit? Doesn't he read this thread? Why would he also stupidly buy stock in Bema and Star? Doesn't he read this thread? Charred, send him an e-mail with your early pronouncements, before it's too late. Be a humanitarian, SAVE HIM!!
John
p.s. What percent of Placer's 97 earnings is the total (misguided) Bema investment? Somebody mentioned "chump change"; just asking. Regards
|
