To investors relations Hello Ann,
Regarding the dewatering program.
In the latest operations and financial update there seems to be some deliberate confusion on some analysts, and bullboards regarding the dewatering program recently to hammer the stock price. I, as a continued stock holder would respectfully ask that a clarification in a press release is needed.
In the latest operational and financial update I quote,
"
The rate of recharge to the bore field has been observed to be approximately 20% higher than anticipated during the period September and October 2013. This is being investigated by our hydrological consultants. It is considered likely that this is the result of interconnection with an aquifer. Recently, the rate of recharge has reduced to the rate expected from the hydrological model and the bore field water level has resumed its anticipated rate of draw down. In the MD/A of ending June 30th there it is stated that the
"
The Company is currently fast-tracking its dewatering program expansion. As of August 13 2013, six of a planned ten wells are pumping and total dewatering output is approximately 790 m3 per hour, which is approximately 76% in excess of the recharge rate."
So if the dewatering stated June 30th of 790 m3 which is 76% in excess of re charge rate, and you have another
20% higher anticpated recharge rate there is no issue!
Please clarify the excess % capacity to date of the dewatering program, and the efforts to bring on the additionall in volumes per m3.
So if my math is correct than recharge rate is as of June was 190 m3 excess capacity is approx 600 m3. (76%) and we now have an additional 20% recharge rate than that would be approx 228 m3 leaving 562 m3 spare capacity. If we add the additional well that all that is all bonus.
Have I missed something critical in this dewatering program? Is my math wrong, maybe.
In an effort to maintain confidence and share holder value please issue a news release clarifying this issue.
Thanking you in advance.