RE:RE:RE:RE:RE:Mining i think you are gonna be right..Lostalot- there's a few reasons why such a large cash call maybe needed this close to production. A few reasons I've seen: -the cost of keeping major equipment on site after the rental period is over. For example, It costs hundreds of thousands to mobilize and de-mobilize one of those big 250 or 300 ton cranes they use for construction (and 10's of thousands for every day on site). Those are almost always rented, and they are in short supply. So, let's say MMB negotiated some of their major equipment until Sept. And then there's another company who has rented it after that. Sept comes around, MMB isn't done with it- now what? They don't want to de-mobilize it, and spend the money to procure and mobilize another. But at the same time, there's another company that needs MMB's equipment. Either they pay off the other company so they can keep the crane, or if the other company is unwilling, MMB would have to spend the money to de-mob and procure a new one. Multiply this by many pieces of specialty equipment, and you have millions in extra costs. - Incentives for completion. I know it sounds silly because we are so far behind schedule. But, as was said in an earlier post, the Koreans have 'egg on their face' on this one. It's embarrassing that their 'flagship project' is so far behind. So, GET IT DONE @ all costs, and the quicker you do it, the more $ incentives. For their reputation KORES really cannot accept a further delay, and they will be willing to pay some big cash to keep their reputation in good standing. -Extra shifts. Kind of like last point. Bring more guys in (@ premium rates), so a second or third shift can be added to the work. - There is a problem with commissioning, a piece of equipment is not working as intended, yield is not what the metallurgists predicted @ the outset, or a catastrophic failure on some equipment. An engineering company may be brought in to assess why things are not working, identify the problem, and oversee the correction of it. More problems require a bigger team, again @ premium rates, and that can eat up cash fast. Thus the advantage of hiring an EPCM (Engineering, Procurement, and Construction Management) company to do your engineering. They purchase and procure equipment on your behalf, and they define the construction execution methodology and manage the team on site to make sure it is done that way- tasks completed in a certain order, and by certain milestone dates, so there is no bottlenecking. Then they commission the plant for you, with their metallurgists who can figure out why things aren't going according to plan, and their engineers who can identify why certain things may be failing (if they designed the plant they are in the best position to identify the flaws). All the major miners hire EPCM firms to manage construction at their plants. BHP, Vale, Rio, Barrick... Very few do what KORES is doing, and oversee it themselves. I am surprised to see a young mining company like this assume they have the expertise to manage a project of this size. So, my guess is KORES is bringing in an EPCM to finish the job- realign construction efforts, and correct any errors in commissioning. And this will be a huge chunk of the 200M$. Because, like we said, they HAVE to get it done on time this time, and any time you say those words in the consulting world- "We HAVE to get it done BY such and such a date", consultants are seeing green- "We can probably do it, but here's what it'll cost you." Just some thoughts. Again, I know it doesn't change anything. Investing in something like this requires patience. Baja has been incorporated since 1984 I believe, and all that time trying to develop this particular Boleo deposit. What's a couple more months? The project I'm working on right now, studies started in 2008, and we're still not completed detailed engineering/ construction drawings. We're targeting 2016 for that, and then construction ramps up, and production wouldn't be until 2022. That's 14 years from conception to completion, and that's a job with no delays- building a mine is a huge undertaking, those investing in this need to know that, and need to know a company is not going to rush things and risk making huge costly mistakes because investors are impatient. One mistake that destroys a long-lead piece of equipment and that could delay the schedule by a year or more trying to get another one. None of us want that at this point.