New from the ex De Beers manager in response to THH You are so right. Investors easily lose sight of the big picture when problems arise.
At BC at present there is so much latent talent, so much opportunity, so much ambition, but because it is new, there is no experience of this particular project. Sure those involved have experience gained elsewhere, but zero experience as to how BC mill behaves under different circumstances. With all the focus from outside, the pressure and stress can become so much that it is difficult to think straight, with everyone involved having their ideas as to how to fix any problems. Remember, there are no other operations running elsewhere providing support and back-up. BC is the first and only project of Novo in action. In time the operators will learn of the quirks of the mill and what to do and what to avoid. At the moment there is no cushion from successful operations elsewhere in the company. They don’t have a well-oiled team yet. They are a bunch of talented individuals learning very quickly and finding each other to form a team. They are not there yet.
Investors are nave in the extreme to think there will be no start-up issues. It goes with the territory, especially in the first operation. All problems are magnified. The Novo team are bedding down for the first time in solving operational problems. There is a huge difference between planning and operation. And, as always, luck plays a role. Making a pp when the market has just fallen is pure bad luck. One mustn’t forget, that compounding the felony are the weather and the bloody virus. Novo has just come through a tough, very hot season with severe storms. The cooler, more pleasant Southern winter lies ahead.
One has to assume that with the imaginative talent available, with the total commitment to achieving success, with experience gained elsewhere by individuals on other projects, BC will be an outstanding success, allowing the company to develop their other opportunities.
It is fortunate for them to have consultants working on their behalf quietly behind the scene away from the frenetic action, who can advise on critical aspects of planning.
On a different subject, one can imagine the frustration felt by those trying to negotiate with the aboriginals concerning Egina. The lack of action must be driving them crazy.
I wish I had more capital to invest in this project. I would love to be a fly on different walls of this company. One can try to appreciate the frustration felt by the trolls, who just don’t understand what is going on and have no idea."