Bill Chippas Show Interview
Just listened to it and had a couple of reactions:
1) Why would Charles state our O/S is 5.2B when it changed to 5.6B in the last two weeks?
2) Co1 - Your calculation estimates of 5000T/day are too high. Charles said several times and the company has stated several times that the target run rate of the mill is 3375T/day.
3) Why was Charles avoiding answering Bill's question about who the past buyer was? It's not like there isn't a PR sitting on every stock website stating RBS Sempra was that buyer.
4) Magnetite producton can be a very steady cash cow/expense payer for us. I don't understand the mill design enough to know why we couldn't replace the pumps and continue producing magnetite during the downtime? Even at a loss, it would have potentially satisfied the 75,000 tons we owe Massey and then would have set us up for sale into the market.
5) I am excited for this PR, but what can really be in it that we don't already know. Answering 90% of the questions that Charles gets asked probably only gets us 10-20% further along with information.
Q&A in next PR:
- Is the mill running? Yes (already knew this)
- Mill changes? Increased two banks of cells, total of 12, to increase both recovery and production. (already knew this)
- Why is the stop sign not removed? We are in the final stages of preparing our financial statement which will satisfy the needs of PinkSheets and remove the stop sign. This will be submitted shortly. (already knew this)
- Company changes? We have a new mill engineer that has extensive knowledge of the mill process and has been leading the mill changes the past months. His name is (insert name) and he is excellent at his job. (Already knew this. There will be no annoucement that MD or any other BOD has changed)
- LTF? We are working with several lenders to develop an LT package. There are several proposals on the table (same ol same)
- LT Buyer? We have an interim agreement for which we have already sent 475 tons of CuCon. They have priority and this agreement is very beneficial to both sides (already knew this)
So, I just wrote out 6 questions that are regurgitated at nausea on iHub. All of which we pretty much know the answer to based on the awesome DD of this board.
So, I ask everyone here:
- What can Charles PR that will significantly change the PPS?
- What cards can he possibly be holding that we haven't already seen?
- What questions are being asked that I didn't cover?
- What is the other 10% of information he can't answer?
I am not trying to bash, just being realistic. I am beyond excited that the mill is running and the interviews and PR's will actually have backing this time.
I guess the one question I forgot to include above is the drying process. As far as I know, we don't have an answer to that one.
Looking forward to next week!
VVV
AI
