RE:RE:RE:RE:Ice troubles in IqaluitHud is/was in a diffucult situation when the decision to contract the MV Happy Dragon was made. I have some agreement with Cubalibras's observations re HUD's ability to plan and execute successfully. It has been an ongoing problem for years and the reason I am now on sidelines awaiting more consistency in achieving timelines. This particular problem is probably beyond their control with the provisio that they knew or should have known re the ice situation in Iqualait.The ice was there since April and was likely to remain blocked until early Aug. when the winds will hopefully open up the port. Since this is apparently an established pattern,one has to question the decision to contract with this ship. Not being fully aware of other choices it is difficult to be over critical,but it creates more frustrations for investors.
If the delay only amounts to a week or so then all may be OK,but if it continues into late August or longer,where does it place the finances?Certainly not in a very desirable position considering that the plans were at one time for a full load being shipped in June.Even the delay into early Aug. is potentially troublesome.
The problem is investors do not know because of the silence from management. The same goes for a lot of other items including the operational state of the mine,the off-takes for the paint and filler industries, the success of creating potential in the anocrete and alumina industries,etc. Investors have to go on hope without facts and information.Not a great scenario.
GLTA