Thanks for help on due diligence, easier for me to ask questons if someone has already looked at !
As far as experienced miners it is an issue of timing and cost- for example one company I invested in missed their projections signficiantly becasue they couldnt ramp up production due to lack of skilled hard-rock miners. Since comodity prices so low in 90's alot of people who otherwise may have gone into industry didnt.Second, working in these old mines for efficiency and saftey reasons better done by experienced people. The issue though- as it is solvable- is timing and working capital needed to meet fall producton date.
I thought you mentioned reserves. basically some companies do go into producton with no formal reserves, but I dont notice even measured or indicated resources unless I missed it.
Thanskfor the help,I just dont know why basic information seems to be lacking for an investor to base a decision on. How complicated can it be to make a rough estimate of minimum capital required if they are producing in another 6 months ? Have they already started ordering suppleis and equipment ?
Someone wrote mill would operate 350 days a year, is that a reasonable estimate considering downtime for repairs and maintenance ?
