RE: RE: more recent info on resources and cash cos Thanks Belgie, I think we should all get together and write the Press Release for Scorpio detailing the merits of this transaction. Really wish they would explain it to shareholders.
I don't know why they would sell now if they were so close to production. I saw the mill to process the ore was approved in April 2012 as you said, but it is fishy. They recently got financed by Waterton to get the mill, why not get another financing to go into production then?
Not sure what went wrong or why it took so long. Royal Standard says it had tons of legacy issues in restarting the old goldwedge mine. That could be the approval issues, safety etc.
I agree, why sell it for $25 million if they are so close to production. I mean with those cash costs and 4k ounces per month this company could generate 40 million in cash flow per year. So i agree, the cash costs should be much higher.
Waterton must have pulled the plug right before they were gonna hit their stride.