RE:RE:RE:Humboldt-Toiyabe National Forest...ozzy... Very interesting questions...
Q: Re: Permits .... are they fully permitted for blasting ? (virgin ore ?) As I am sure you know... the last 'operational update' released in March explicitly stated:
"Heavy earth moving equipment, including a loader and a haul truck, has been ordered and is scheduled to be on site by the end of March. With this additional equipment, Borealis will be able to mine and add fresh ore to the heap leach pad with the expectation of increasing recovery rates and decreasing the cash cost per ounce."
SURELY they would not have said this if such new ore mining activity was not imminent AND fully permitted? It is now almost September (almost 6 months later)... one would think new ore m ining should have started long ago, no? Shareholders have no idea as nothing has been released since. NOT TO MENTION they have been talking about new ore mining for months previous to this. EVEN AFTER the infamous 'boiler failure' on Jan 7 2013 they stated :"
We also have heavy earth moving equipment on site and a drilling and blasting contractor lined up. At this time, we expect to start moving new ore to the expanded pad starting in February. " Then in March it became 'end of March'. Same old story with these folks. Delays x 10.
Q: Couldn't one curious GYPHQ stakeholder with a pair of binoculars answer the "what's going on at the Borealis Mine" question ? Hey! Now there's an idea! Would be great to have documented evidence of what is and HAS BEEN really going on at the mine site. Has it been run like a publicly traded company accountable to shareholders should be running things? No idea.
Q: iirc, Waterton indicated that they had ex-Barrick efficiency wizards working ( @ Borealis) towards significant improvements in production of Au+Ag.? I believe that was even one of the reasons given back in Mar 2012 for the initial agreement with Waterton. Has sure worked! Not.
I DO NOT understand how a company could spend ~$30M in infrastructure, definition drill throughout 2012, expand capacity continuously, have new ore available, have endless amounts of previous surface work on the property... AND NOT end up with a profitable operation 2 YEARS LATER. Makes no sense to me. Anyone?