Laser,
The failure over the summer was caused by inadequate mill personnel and procedures. This was unfortunate and a sad commentary on management. But it does not discredit the ore values nor the potential for production.
Production has stages. At this time, with the proper stewardship of Mike McKay the failure over the summer has been corrected to the point where leaching and precipitating successfully have been accomplished to the tune of some 10 ounces of pgm per ton.
You are correct that checks and cash flow are yet to be achieved. But you are incorrect in concluding that the company cannot >attain sustained production<. You are failing to recognize, or pretend so, that the company is developing in the direction of achieving cash flow and profitable production. Instead you conclude that what failures have happened in the past define this company in a static sense. They have failed, they are failing and always will fail. For this you not only have no evidence but you are denying existing facts namely, the success at the leaching and precipitating level.
IMO you have a motive other than a fair evaluation of the company. And I grant you the history of its pronouncements and promises is dismal, but once this has been stipulated you continue to beat the issue repeatedly. So I conclude that you have an agenda of your own.
For your information Global never announced that it had been paid by Sabin for rhodium content, but I have it on rumor that it was so paid.My own opinion is that it was not announced because the payment was less than had been predicted . Therefore it has been demonstrated that rhodium can be extracted from Global ore. That it was less than predicted, if I am correct, is not unusual since everything that Global has predicted, so far, has been in error.
I suggest that you adopt a wait and see attitude about what emerges over the coming weeks and months. I also suggest that if you are short you should be very careful because there could be sudden surge upward and it might be difficult to exit a short position without incurring serious loss.
Best wishes, Ed |
