On February 21, 2012, Rizzo Associates issued a "Trip Letter Report to Assess Status of the Chloride Copper Mine" to the Company. According to the "Trip Letter Report: "The SX/EW Plant is in good condition; however, in need of minor refurbishment and the replacement of some supporting equipment, but most of the equipment can be used and the Plant can be brought back into working condition within a reasonable timeframe and limited expense." The Company has not currently defined "reasonable timeframe" or "limited expense."
This refers to the "Trip Letter Report" that says the plant can be brought back into working within a reasonable timeframe and limited expense.
Simple - the "Trip Letter Report" that SIRG received from Rizzo did not give an exact timeframe (weeks/months) that it would take. This is likely due to the fact that parts need to be ordered and one never knows how long they can take to arrive.
Next, "limited expense" how much are those parts, etc. going to cost and how long will it take to get them installed?
Money will not give you answers on how long it is going to take to do something nor will it give you the exact costs to accomplish that project.
The good news is that the equipment can be used and the plant can be brought back into working condition. We will hear more on a time frame as they progress.
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