RE: Thank you for the shares! reply to Qbar82dv The cost overruns were caused by a combination of inflation that is all too typical in construction projects, especially of this magnitude, but also from mis-management.
The Mexico operation was not communicating the overruns and concerns to the Vancouver HO. The impression that I got, was that the onsite head honcho was experiencing overruns and possibly hiding, or not disclosing them to the Vancouver HO, in hopes that the overruns would abate. Bottom line, is that the BAJ meltdown was caused by gross miscommunication and poor oversight.
The overruns may or may not have been preventable. Let's assume they were not preventable, had they been identified early on, tracked, the lenders and shareholders kept up to speed, we (those of us who bought in the $1 area) would all be better off today. Lenders and shareholders can identify with and understand cost overruns, but not when it is too late, left with a feeling of deception and minimal or no options.