We will be lucky if CMC produces gold until the end of the first half 2014, if any at all.
Obviously we have a very weak management which does not seem to have expertise and experience in what they are doing. Some highlights below:
- Prefabricated a mill for the Silver Hart property which was never used as they did not get the necessary permits.
- Did not renew the Class 3 permit for the Silver Hart property in time so that they could do further rounds of bulk sampling in 2012 and 2013 (this would have reduced the amount of new shares issued)
- The delay at the Bishop Mill. Seems like a never ending story to me…
I am also active in the management business. If I would come up with such business plans and would fail to realize them as CMC does, I would not be around in my job anymore (JMHO).
Until now we never saw any calculations on the possible income of the Bishop Mill from management. Would be interesting to now what the cash costs of gold per ounce are etc. In light of the above this raises further doubts. Guess there will be more troubles and unpleasant surprises down the road...
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