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Gold/Mining/Energy : Royal Oak-RYO -- Ignore unavailable to you. Want to Upgrade?

To: Che__Guevara who wrote (803)	3/22/1998 10:05:00 PM
From: Bill Jackson	Respond to of 1706

Che, You are correct. No estimate is that precise. I speak of true errors that are not found that end up making the tailngs pond 1/10th the size it should be, or vice versa. Most overuns are the result of poor project schedules(or unexplained price jumps of good/shortage of goods ti make the project with. The co-ordination of men and materials so that every thing is built when needed and all the parts are there on time etc. This sequential set of tasks is a skill in itself and firms of project managers have become expert in this phase. This is one phase where the lowest quote might not be the best and where too muc home grown seat of pants stuff screws things up. Modern insurance pays fast and on time as the courts now put interest and damage clocks running at 3-4% above prime. Once the insurance company sees the problem it gets it funded and rectified ASAP. This problem will lie outside insurance as that could not be the insurers fault, but only the company's/ In addition if it could be proved that any foot draggin by the insurer caused the eventual faliure 5 years of fighting later the insurer would be hit hard, and RYO would insure with a reputable firm, whose reputaion would be on the line. They fight hard against fraud but I have never had problems with insurance. I had one car stolen and they paid as soon as the 30 days had gone and also rented me a car in the interval. I had one store burn and was paid in 3 weeks. Bill