Hey Bruno,
As I remember the way things went, CGFI proposed to repair and revamp the existing settling ponds in its proposal in 2010. It seemed at the time that that plan was the norm and would be acceptable. The dry stack method had never been used or even approved by the DRMS for gold mines in Colorado and would have been (and is) a more expensive method of handling the tailings.
At the time, the financing was available (via loans) to repair the existing tailings repository. So the denial of the permit in 2010 was a surprise to CGF. (As in any proposal, there is always a few points that require revision, but the complete rejection of the proposal was shocking.) It has been speculated that this situation was attributable to a supervisory employee in he Durango office. (He is no longer employed at the DRMS.)
You probably are without question correct about California being the toughest on environmental regulations. I meant to say "one of the toughest" states. I stand corrected.
Beside NV Taylor's posts, I have been told, by other mining engineers familiar with the regional miming situation, that 10 years is the average lead time to get a mine or mill permitted and operational.
We are seeing it here at CGFI. Having the mill operational this year seems to be dependent on occurrences in the upcoming month or two.
Profitable by the end of the year? I have my doubts. But our target, as investors, is to have the share price rise. That is JMHO.
CGFI
Don't take my word for it, Do your own research! Then you will know it's true!
