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Gold/Mining/Energy : Copper Fox -- Ignore unavailable to you. Want to Upgrade?

To: explorationguy who wrote (9001)	1/4/2015 5:52:59 AM
From: sense	9 Recommendations Recommended By CanadaGrant dsikorsk explorationguy Hog Head mahzman2 and 4 more members Read Replies (4) \| Respond to of 10654

This popped up yesterday on the SI board for another company I follow: RPA's Graham Clow: Red flags investors should heed northernminer.com I note the article puts it in context of companies experiencing this or that issue, and having it prove a show stopper on the intended path to building a mine... but, when I read their list of single issues, it seems to me CUU had most of them... not just one. The firm doing the PFS, PEA or BFS etc., is contracted to do the work, and they're independent... but, they still do only what management directs them to do... in terms of what to study, resources allowed to do the work, etc. There's a wide range in quality of work... some due to variations in the ability or capacity of the QP's, and some due only to what it is that the management is directing the QP's to provide in terms of focus and quality versus price... with geology studies not being different than anything else in the relationships between brands of products, prices, and product quality. There is not a one sized fits all fixed price PFS package. Instead, management selects their service providers, directs them, and gives them a budget... knowing the variations in quality and price aren't independent of their selection or direction. The independent QP's don't generate the information used themselves, but (qualify and) use the information the company generates. It is the management who are responsible for producing the data that succeeds (or not) in supporting the results of the analysis.... the management create the data the independent QP's analyze. What I saw happen here was a management spending money willy nilly apparently without having a viable plan that could work to connect the dots between the work being done and the end result desired. They used more of a ready, fire aim approach... and it cost them dearly when disconnects between the focus in plans and expectations and geologic reality appeared. Management created a "can't get there from here" situation... mostly, it appears, because they were grossly under-qualified in skills and experience in relation to the actual job requirements for managing a project of the scope this was... or would have been... Elmer admitted as much in the PWC video confession... That's a problem for Elmer, for CUU... certainly for investors in CUU, but, also, for the mining industry in Canada, and, for the TSXV... when you have $90 million being raised in the public markets and then basically being pissed away... only because the guy running the project didn't have the background, experience, skills and abilities to get it done... as he just wasn't qualified to lead the project. That's an expensive learning curve CUU investors provided while funding Elmer's education... assuming there was a learning curve. And, that's assuming you do buy the "I screwed up" story as wholly valid, rather than also seeing a need to be aware of some other potential explanations... If Elmer's performance was instead not a series of unfortunate blunders, but was exactly what those who enabled him expected him to deliver... then, you'd expect to see a result with no consequences attached, and no changes being required, no future limits attached, along with the need for the mea culpa. Most people who piss away $90 million of others money might expect it will cost them their jobs ?