RE:Brendan... Mine Optimization
GBM have further recommended that based on the anticipated improved recoveries and the production of
an upgraded copper concentrate, that the mine plan and processing rate be optimized to establish a lower
capital cost alternative, which will improve the overall economic return and viability of the Santa Barbara
Project.
These optimization studies were undertaken during 4
th quarter 2014 upon completion of the metallurgical
test work above.
Thats all we have saying where the moey is going. We raised money in November for the cost of the MET work and PEA for January... so both are covered. Either they used the PEA money for the Site optimization or the set it aside and the raising of money in January was for the PEA or the Mine Optimization. GBM arent going to do it for free...
I find it odd tho that they would have Debentures for existing shareholder for the payment of the PEA, as stated in December but no PEA... Poor those who gave them more money in return for, well, not what they gave them money for. Yet, I do not see anyone complaining other than on these boards... why not take it to someone who can actually look into it or do something about it. I'm going to be positive on EGX until I leave... no sense in bashing them. If I dont beleive the company to have a positive outlook, I have no intentions of sticking around. Admittedly, I am disappointed that we have delayed the PEA for more testing when, I think, we can release it and update it later. Glenn knows and only Glenn. Maybe Deller.