PINL:VITFF - Post by User
Post by
dbbclbon Nov 18, 2020 4:38pm
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Post# 31924739
Re-Re: Our dream team
Re-Re: Our dream teamI am having difficulty understanding why this company is only fair weather drillers. We have a company directly next door that has an on-going drill program as we speak in an effort to build their value. What is going on here!! We had every opprortunity to raise $20-30million when we were flying in Aug with no real impact to the S/H structure. Those funds could have easily covered a new drill program on Raven and maybe helped cover some of the equipment problems as well. Nobody can convince me that these equipment issues were not a problem months ago. Why are we hearing about them now when they need excuses for the share price.
I am beginning to wonder if they went with substandard equipment from the outset to try and offset the fact that they were so much over budget on the plant construction. As per McConnell this equipment was supposedly capable of handling a 350,000oz production level. We have not even reached 75,000oz and we are replacing with larger motors - liner problems - conveyer problems. The equipment from CAT is certainly capable of getting the ore to the destination so the problems are all in the conveyance and processing. Did these guys cheap out to try and save face when going so far over budget in construction and now we are paying for it in production and ultimately share price.