Thanks for your comments which one hand shed a bit more light on situation, but on other hand lead to mroe questions. I think part of issue is how this company presents matters.
As far as the "chill" effect the simple question would be if an investor buys into a private placement, can they place stock in brokerage account in 6 months- if they can't , would they invest ?
The HR issue for experienced personnel in a mining operation is not simply a factor of high unemployment in an historic mining area, doesn't work that way. Underground narrow-vein mining and operating a mill takes experience to do efficiently- you don't just hire any young person and expect them in a month or two to know how to mine ! If you do there will be safety and efficiency concerns. I am not saying they cant staff the mine but it is not an overnight thing especially if one values efficiency and safety.Thus my question more in relation to the projected August start date.
-Perhaps simply : if there is an August start date (a) how many hires do they expect for the mill and when (b) how many miners will they need to hire ?
Furthermore are they stating that the material to be mined is ready to be mined ? What underground services ( air,water , etc) have been established in advanc of mining ?
The mill capacity I find interesting. They keep using word expandable to 750 tpd, which I foudn confusing until your post. So if I understand it you are saying mill can operate at 750 tpd, but that it would reach this capacity in stages.
I am confused about your comment about reserves, where does it state anywhere that they do have any ore reserves and what is that calculation based on ? As far as I can see company doesnt in SEC filings even quote mineralized material let alone reserves.
I geuss my questions simple (a)does management still forecast August start date (b) what is estimated capital and working capital management believes is necessary and that they have based their calculations on) (c) is there a breakdown of operating costs forecast (d) where wil they sell and how will they be paid.
I do not mean to be critical, but the nebulous information available doesnt breed confidence and I have impression CFO has no operating mining experience(is this wrong,, has he any experience in an operating mining environment ?). In my case I would buy 5 times the amount of stock if these basic questions could be answered by at least some order of magnitude.
