Camrova Resources Inc V.CAV.H

nothing surprising

[canne]

Being a long term shareholder, I have grown to expect bad news. While it is no surprise that the plant is having production problems, the cost of delays and correcting process problems continue and when you are talking about billions, BAJ just isn't in that league. The finances are so opaque, I haven't a clue of who owes what to whom and cash flow remains thin. As for the production problems, "mining pays my bills" correctly stated it would take a year to resolve the problems that are inevitable and when the debt is in the billions, the cash register keeps on ringing. I am surprised that they had pump problems on the slurry circuit as management stated many years ago that there were at least 6 operations using the same process as is being used at Boleo. The problems with the underground mining are troubling also as there are other operations using the same techniques that seem to be successful.
Colorado Cinto is having buracracy problems - surprise - surprise. Mexico is famous for this and besides, why would anyone be in a hurry when dealing with a company that has no money, I just can't see how they can raise any capital given their current situation. BAJ is like a drowning swimmer, barely making it to the surface for a gasp of air then going under again - each time getting weaker.