EXPM:HRTFF - Post by User
Post by
Goldon45on Jul 09, 2020 8:02pm
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Post# 31248831
Exploration play.
Exploration play. I am very sure SR's original plan was to keep this an exploration play but exploration is expensive. At the time, nobody wanted more dilution and financing for juniors was still very tight.
GP was in the $1200 range.
Maybe SR should have solicited low bids at the time. There was no one willing to pay top dollar during mid-cap consolidation days.
Opening the mine and mill was a way to finance further exploration without continued dilution.
SR is a great exploration guy and he does have significant mining experience. Building and running a mine on a very tight budget was and is the problem. The company has been under capitalized from the start.
So, better as an exploration co? No, the returns would have been minimal. It simply wasn't an option.
I don't fault SR too much. The buck stops with him but he wasn't alone in directing this. He wanted it to work as bad as the next guy. It may still. Who knows. It wouldn't have made it as an exploration company though.