GREY:NEVDQ - Post by User
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bogfiton Dec 05, 2021 12:13pm
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Post# 34199938
RE:RE:RE:RE:Gann: your comment re NCU is right on!
RE:RE:RE:RE:Gann: your comment re NCU is right on!Curious, what lessons you learned through the experience.
I believe that a large portion of our misfortune was unavoidable, with a major piece of that was the commodity bust, magnified by House Republican’s petty obstructionism to “get even” with Harry Reid. One thing that Republicans can always be counted on is retribution and revenge. In reality these delays cost the company a lot of money, and contributed to the debt load and repeated financing - as we have seen on poorer and poorer terms.
Other difficulties that have presented themselves i.e. the issue with the shaft contractor is troubling, however it is not unusual that a startup will need to adjust the mine plan or make plant adjustments. It is obvious that Pala was way over their head and lacked the competence to make the best decision. I have no knowledge of this, but I suspect that much of the turn-over in mgt. probably had to do with Pala ignoring the advice they received from the professional staff.
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