"is NCU minable?' Sure they have a lot of ore there but can they get it?
That was what the feasibility study was for. I suspect the most of the following autopsies posted here will most likely sound like the Blind men and The Elephant, but if you want the original sin, Pala, probably never intended to build a mine … they wanted to market a permitted, large reserves, domestic project to a major thus having little invested beyond time of planning. When the Land Swap bill languished in the Republican congress of nearly a year as the bottom fell out of the commodity prices, Pala thought that building a mine wasn’t so hard, all they needed to do was hire the contractors Right?
If you wish to draw a broader financial moral to the story, it surely would be the high risk associated with under-capitalized ventures. If something goes wrong and costs increase, a natural tendency is to then cut corners hoping to reduce cash outflow.
BTW – Anyone who invests in a one-trick pony show START UP and then loses their money have no one else to blame. It always was a high-risk speculative bet, nothing more, nothing less.
b.