RE: TALKED TO KEN BATES this morningPoint # 2
The financing was done to ramp up production to 3M tonnes asap?? That was the goal all along. Now after dilution we will hit this target later that anticipated including the 1M tonnes for 2011. Lets give the money back as we were better without it !! Obviously a BS answer - the blue seam explanation makes more sense and its mentioned in the new 43-101 that they are awaiting on blue seam permits. They did the financing because things did not goto plan - plain and simple - and when they went to TD cap in hand and explained the screw ups TD had them where it hurts and said 2.75 even though at the time the stock was around $3.50.
IS Ken Bates saying they will produce more than 350K tonnes - this has nothing to do with 43-101 - its about production - 43-101 is about measuring reserves
Lots of his answers are inconsistent with the CFOs and the New releases !!