RE: RE: RE: RE: Just a Road Bump on the Way to thefollowing is the May 01, 2008 news releases.
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Mr. Dickson commented, "The short term results of custom milling, the lowering of unit costs, have proved beneficial to the Company's bottom line, however in the opinion of management the longer term effects will be detrimental.
The fact that we were able to make $9.63M in the final six months of 2007 from mining operations at Jerritt Canyon confirmed our decision to purchase this strategic asset when it became available. We were expecting to find that the milling and mining facilities were not to a standard that met with our corporate standards with regard to safety and the environment, and in this we were not surprised.
In the first quarter, during the extended shutdown for safety and environmental improvements, the Company has made significant improvements to the milling and mining facilities, which are now on par with similar facilities. The Company will now focus on increasing mill feed from its own mines, increasing safety, improving front line supervision and modernization as methods of reducing costs."
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it's said: they were CORRECT that the newly bought "STRATEGIC ASSET" has to be phased out due to longer term "DETRIMENTAL" effects.
what kind of wealth destroying strategy is that?
it's said: "facilities are on par with similar facilities"
similar to what facilities? to those got shut down?
their words are very illogical and misleading. that's not caused by security regulations.