welloilbefooked22 Jan 2018 19:02
HiWOBF
I have to agree with your stance if we were dealing with a Company that had peers in a stable country or indusrty.
However, I think we are in the wild west with newish technology and in a market where previously mining Companies have not been interested in piles of earth. Having green issues etc and problems worldwide with mining etc the situation has changed.When an opportunity like Platcro and BMR come up you have to take it. They don't exactly know the margins because of process. But if you look a Hernic, that is a sort of template for margins.
As long as you get the due dilligence correct then that should be OK.
For instance, there is a Company called Patagonia gold who have been mining gold in Argentina by piling it up and using chemicals etc. Everyone has done it for years and the team are experienced, however the latest project had heavy clay which needed equipment that they had to buy to commercially get the gold. What I'm trying to say is everyone has problems that are unknowen but JBL are in a sort of brand new industry which needs time.
Again, your not wrong in what you are saying if you were dealing with a PLC in a tried and tested sector