Wishing to succeed28 Jun 2019 22:34
For la Parilla there are ; those invested heavily (some so much so that others criticise the amount), local dignitaries and politicians tied into the success, regional individuals invested, locals working there, Blackrock invested through loans and PIK arrangements, the management team invested, companies that want our product, a country that wants successful business in the region. Hence, there are a number of parties, all of which desire a positive outcome. When a positive commonality amongst all stakeholders is in place the chance of success is improved for a project.
At a material level, looking at the pictures on Twitter starting from Sept last year shows a chronological story demonstrating huge progress in plant installation that is now nearly finalised. There are JORCs demonstrating the amount of resource and we will start on higher grade ore as we progress.
At the AGM, MM was robustly challenged, yes we are behind the timescales originally set, but that is well known. Looking forward it is wholly positive, we the company Macao and SP should be higher as we stand imho.
I had a pleasant lunch today and had some laughs, I also think I might have paid a disproportionate amount on the bill for someone else’s wine. But, we all get overexposed at sometime- then again perhaps I could afford it. Ultimately, risk on this investment is now considerably mitigated compared to when I started putting a larger sum in- in that respect I am less exposed than I was. I am, of course, disappointed in delays as are The Board ( all of whom some consider over exposed). However, in order for capitalism to work it requires investment which is risk- it is always possible to point out someone is ‘over exposed’ , that includes farmers that buy seed and plant it. Me, I am looking at a bumper crop.