RE:RE:RE:RE:RE:RE:From $2.44 on Nov 2 to...babybeluga wrote: Manson and Williams have built and operated mines.
Explorers make notoriously bad mine constructors and operators. There are obviously exceptions. Obviously they all bring in people with experience - that doesn't seem to affect my first sentence. The rest of them change hats. No profit/loss for explorers, no endless funding with PP's just the bottom line which they may make excuses for but can't hide.
I almost didn't bother delving into it because my point is an organization problem but just out of interest i looked into CEO Manson (CEO of Stornoway Diamnonds '09 until he resinged in Nov '18). Stornoway Diamond commercial production Jan 2017 ($775M mine cost). Two and a half years later (2019) the stock was delisted. didn't bother with Williams because there is now way he could top that.
The irony of a failed diamond mine is incredible. Marathons Vlake property was acquited from Mountain Lake Resources who had a clown show attempt with Etruscan (explorers to miners) with their Tirisano diamond mine in South Africa. Design problems, poorer than expected grades and diamond pricing lower than antcipated, even the diamonds grew legs and ran home with the employees at night, and that big pink diamond is still on a milk carton!
an entertaining Sunday morning!
tC