The two most likely mines to be started, the Champion and Silverwing mines were not closed due to diminishing ore bodies. One was closed during WWII by government decree, and the other was closed due to a prolonged smelter's strike.
The historical records on both show large multimillion dollar deposits.
Your generalization about "finite resources" doesn't really apply in this instance since the ore has not been exhausted (or even extracted for about 50+ years). What was in the ground when the mines were closed is still there. (And both mines were productive enough to operate until they were closed (for reasons other than a lack of ore). The ore didn't disappear over those years! The mines will produce ore again.
The estimate of remaining ore is simple arithmetic function.
Your point about increasing costs of recovery and decreasing resources just does not apply here.
The price of precious metals have increased in multiples since each of these mines have ceased production.
The technology used to recover the ores has also advanced in those 50+ years.
If these had been operating mines, yes, you could say these theories might apply. But there are many years of production to come from these mines before that is a valid outlook.
In addition, there are many more sources (mines) of ore in close proximity to the POW mill. With the only mill in the area, the probability of success increases exponentially for CGFI.
You point to a time when the mill was not operating as a basis for your opinion. (The 8 years the mill was closed, you say the "investers" got hammered.) I do not think it is reasonable to expect profits from a non-operating facility. It's just unreasonable, and makes your point moot.
Investors in an exploration company must expect an average of 10 years before profitability. As I see it, CGFI is on schedule by industry standards and is closer to an assured profit than most other exploration companies since they are restarting an existing operation, not hunting for a new source of ore.
You obviously chose to see potential failure where others see potential success.
Don't take my word for it, Do your own research! Then you will know it's true!
