RE: RE: RE: A 2nd look @ the FULL ReportI hope you are also patient, as that will likely be needed if you're waiting for NWM to prove up 1 million ounces. This time last year they we're talking about the same goal, except back then they were aiming at reaching it in 2010.
Don't take my word for it, though. Here's Chris Berlet himself saying so:
https://www.youtube.com/watch?v=q4x0lwKfQ7A&feature=related
From 1:56 onwards he talks about them doing an "recalculation" of the reserves in 6 to 8 months time with a target of 1 million oz. The interview is from May 2010, so that obviously didn't happen. In October they were talking about a new resource estimate for Lluvia de Oro in March 2011 (see slide 16 here:
https://www.nwmcorp.ca/docs/1010ppt.pdf), which hasn't happened either.
The interview above also has plenty of other targets they haven't been able to deliver on. Right at the start Berlet says they have no plans to go back to the capital markets and that they'll likely end up with 300 million shares fully diluted. They're now about 50% above that and with all the production delays I wouldn't be surprised if they need to issue more shares.
In part 1 of the interview -
https://www.youtube.com/watch?v=CV7w7o1OFJk - he mentions they have a functional SART plant (which he also mentions in part 2). Three months later NWM decided the same SART plant was "deficient" and defaulted on the lease agreement (one would think they could have discovered this earlier, given they had signed the lease agreement in the middle of 2009).