RE: Wow Wow Wow3 Oct 2021 19:17
You buy a drill because it's cheaper than bringing in contractors. Then you have to hire a team to operate it. Then you had better buy a house to accommodate them - and all the spares etc. Then, you had better put a fence around the property to protect the drills and spares etc. The house needs decorating, too - so the drill team and visitors can be comfortable.
Burleigh is playing the old `I`m not interested in investing.... but` card. You know that old tried and tested cloak of innocence malarky.
As far as what he said (above), ECR were always going to ramp up drilling across Victoria, thats been well known for a while. So you have to make the decision..... going in to the busy spring and summer season, whether to compete with other companies for drilling contracts & contractors in what has been described as a `goldrush`scenario in Victoria, or do-it-yourself.
His deramp is designed to make out that CB and the board made the decisions the wrong way round, like they didn`t consider that buying their own rig(s) would need a team to run them, a realisation after the purchase.
Incidentally, rigs also come with their own spares in the original purchase deal.
And then a further realisation that, oh, where are they going to sleep?? almost like a black lightbulb moment!
Have you seen this property? Its only 4 star because it doesn`t have a pool, if it did it would be 5 star! So no decorating needed to keep the team or visitors `comfortable`! Just some alterations to modify in to a 7 sleeper instead of 5. Also an office, storage, cheap off grid power for machinery to operate on.
CB and his team have clearly had plenty of time discussing these recent moves, and I`m going to trust him/them for now because they are doing so much drilling, not just sitting back on the funds in a lifestyle manner.
Drilling where they `know` the gold is there, so just a matter of showing that in the assay results.
This Burleigh is playing the game, seen it many many times.
They throw something out there like the `accommodating contractors` costs involved in buying this property, and then finish by saying that the contractors will just bill you for accommodation at the end anyway, as if its a minor addition!
As CB explained, costs for digs will triple in the coming busy months, if you can find any that is, then of course the price from the contractor will be hiked by 15% so that they make more profits.
We have a very vibrant company here doing the right things to try to evolve and grow, Burleigh knows this, so don`t be fooled by his blaze tone.
He wants in, but he wants in cheaper.
I don`t know how much cheaper the market is willing to let this go to, but some positive drill results would see the pent up interest released, and the MM`s opening in the mid 2`s..... before the rise!
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