I for one have never gotten down on TLR for the sale of TDI. however, it was making some money, and with the current senario, any income would be better than none. It could have been leveraged at this point for more up front cash. that said, I agree that the water problem could not have been reasonably predicted in advance. However, for Guill to be bailed out because he "miscalculated" the risk of the project.... is this good business or just too much goodwill? For someone who was supposedly very savy about mine construction, this seems to me to be a big mess. I continue to hold my long position as well as there IS gold in the ground. this is not a fantasy. However, the entire house of cards is still all about the permit. We need the hard rock permit NOW!
I agree about the unforseen costs of the water facility.
first off you numbers are off on butte.
750,00 oz of gold over 10 year mine life that is recent information.
secondly you speak of 1 million for TDI.
Thats Profit! after all other expenditures.
Like property leases, like management and other day to day stuff. and money for exploration on Neveda Thats all gone now. so your 1 million you you speak of is the profit, all the other money paid for the other stuff.
That is why the drilling bus was so important to keep.
So wheres that money going to come from now to pay for that stuff bud.
The drilling business generated 30 million a year in revenue! That was all TLR expense money!
Everything they pay for now will have to be through debt!
This company will bleed to nothing.
As far as we know there maybe to much water for them to even remove hence denying the permit for good.
Not a pretty sight.
Next time you right something down you better get your numbers straight.
Im glad you think 30 million a year is nothing.
Even though some that money went for drilling repairs and payroll, but not all of it.