This issue with the water has be dealt with on a daily basis, water is always filling in at a quick rate. This is a major expense, per the companies own disclosure.
You're right, the info is not new, but these are the pieces of the puzzle that clue us in as to why theres very little interest for the stock, regardless of all the very positive historical data thats available... imo its also part of the reason why the Quilliams got their hands on the property for so cheap.
All these little things add up and make it less likely to be profitable... which means you can expect lots of dilution to cover the bills.
Ya gotta evaluate the COMPLETE picture when researching stocks (especially underfunded penny stocks), not a single aspect.
The mines became more expensive to develop and operate as they got deeper. This was not due to a decline in the yield per ton, but due to the increased cost of lifting the mineral ore and of removing water from deeper shafts. The removal of ground water in mines is a persistent expense that must be addressed on a daily basis. When a mine doesn't have a lower working level tunnel – like the Sinker Tunnel Complex – that intersects a vertical shaft, the water must be brought to the surface and disposed of no matter what the expense or technical inconvenience if the mine is to continue operating. This increased cost of mining at depth was one of the most significant problems for the mines on War Eagle Mountain.
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