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Gold/Mining/Energy : DYNASTY METALS
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To: klinker who wrote (368)4/20/2013 12:43:22 PM
From: sysaphus  Read Replies (1) of 387
 
Well, not really.
The only way the decision to fund the mine on proceeds is a good one is if Washer saw this beat down in miners and PMs coming. Clearly he didn't. His decision to fund the mine this way is only a benefit due to circumstances he did not foresee.
In other words, a complete fluke.

However there is still another option where things would have turned out even better for Dmm and it's shareholders.
Had Washer decided four years ago to dilute, hire contractors and locals to get the declines done, the declines would have been finished years ago and cash flow would not have been an issue at this time anyway. In fact that situation would be much improved from today because the shareprice would be considerably more than it is today.

So IMO Bob had no foresight at all. Had he had foresight, he'd have ensured the declines were completed BEFORE they got the licensing from Ecuador.
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