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Gold/Mining/Energy : Global Platinum & Gold (GPGI)
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To: Jeff Williams who wrote (7842)10/8/1998 9:16:00 PM
From: Zeev Hed  Read Replies (1) of 14226
 
Jeff, there are very few mining outfits that can be "positive cash flow" at 50 tons/day, one of Jensen credits, IMHO, is that he kept the overhead at a minimum, so he has a chance of achieving that goal (once the onion has been fully peeled and we indeed get at least $1000/ton of goodies). Of course, one of the reasons that Jensen was not able to deliver on past promises is the fact that he kept the operation lean and mean and lacking in appropriate "management", but then, that is exactly his "business model", you either take it or leave it (VBG). Changing management probably will cause negative cash flow for a long time and no breakeven until much higher volumes are achieved.

Zeev
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