Lojiko, I agree that an e-mail does not have the weight of a PR, but over the years Tom has seemed to be pretty careful about his prognostications. The DD period should be over by end of the second week of June so let's hope for the best on the loan.
Some of these posts are getting far afield from common business sense, and show limited knowledge of mining or Panamanian laws.
For the record, the Panamanian government has nothing to do with the success or failure of the mine; no vehicle to intervene should the company cease operations for lack of funds. Most probably the mine would be nationalized. However, based on my experience in Panama, that will not happen under this administration.
Therefore bankruptcy or any type of interaction with the government is just fantasy. Production will continue albeit at a slower pace, if there is no more funding.
My ranch is about thirty air miles from the mine, and I had intended to go down this week, take the chopper over, and check on things. However, the oil mess we have now here in Louisiana has delayed everything.
This morning I spoke with some friends in Panama City and David who have their ears to the ground, and are also engineers. They confirmed my suspicion that this is just the normal pace rate for business down there.
I do not see any reason for real concern about the future operations. The big question for all is how much more gold is available in ODN. That will determine the future and of course all of the big potential investors are awaiting the news. The thinly traded share price and general market conditions are not relevant. The local expectation is that results will be announced just as soon as possible. Hope you are able to hold on for another sixty days!
