The company only promised one thing - They promised that they were going to drill and analyze and listen to the results and design an operation to MATCH the analysis. They promised to NOT return to production until their plant was tuned to the drill results.
Sure they set return-to-production goals along the way, based on their best information at the time the goals were set. That's what all smart companies do - they set goals and plans based on current information, but they change those goals if the current environment changes.
In early 2008, before the 2008 drilling program and before the 2008 world-wide financial credit crisis, GSPG set a goal of returning to heap-only production by late 2008. But as drilling progressed, they smartly saw that the heap-only production goal needed to be altered. The 2008 drill results screamed "Add a MILL!"
Adding a mill meant updating the permits and that adds much time to the process of returning to production. Additionally, the world-wide financial crisis of 2008-2009 made credit very difficult to come by, so even after key permits were completed and approved in Nov 2009, finding credit meant partnering with world-class financial advisors (Moelis), to restructure the company to make it palatable to financiers and investors and that TAKES TIME.
The road to production is VERY complex for all junior explorers, but especially so in the past year or two, during the financial credit crisis. What looks like a wild goose chase to you, is a micro-junior explorer reacting to fantastic drill results and reacting to permitting processes and reacting to financial realities. You want cookie-cutter cook-book results, but I and most of us here are smart enough to understand that the road to production for junior explorers contains twists and turns and we are comfortable with that. Perhaps you're not cut out to invest in speculative junior gold explorers.
I'm glad you sold your shares but kept a few, because you and others like you are going to drive the rally when you figure out your mistake and try to jump back in, in a hurry, as the price starts jumping. The wave of fence sitters rushing back in, at the same time that Moelis starts marketing GSPG to serious investors, is going to be pretty dramatic.
Just my opinion.
