re Geo claims of 50% JV-which CWRN has denied-if there was any validity to that claim logically Geo would've had reps on the board and this battle would've been fought on the board of directors internally-rather than waiting almost a year to begin a public battle from the outside after Geo was denied access to the mine
No proof of Geo claims-they couldnt possibly have provided 5 mill-all the equip extant then could not have cost more than 2.5 mill new and we know most of it was rented/leased-so no more than 1 mill or so equip (powersrceen etc paid form 1st ship as per 5-26-11 PR)-and May 26 2011 PR shows CWRN paid for the shipping and paid 75% of Geos cash investment from the 1st ship and reportedly rest of Geos investment was paid ca Dec 2011
re Geo claim of 6 month delay on 1st ship-6 month delay my aunt fanny
production began Sept 2010--full pro Nov 5, custom separator didnt arrive until ca Dec 24-and could not be used operationally until Xmas vacation was over Jan 7 2011 -and remember they were doing all this without benefit of the results from the 1st 68 drill holes-which werent acquired til ca May 2011
trucking began within 5 days of separators 1st operational use-cant get any faster than that-1st trucking pics were exif data marked as ca Jan 11 or 12
then shipping company switched ships on them ("shipping sharks") causing ca 1 month delay-and then ship co reopened negotiations due to short spike in oil prices to 120/ton resulting from Libya war-
if Geo was ship facilitator for this 1st ship then Geo was responsible for those delays-though in truth only the ship co would be responsible-but u cant sue every supplier and vendor and contractual partner or u would spend entire life in lawsuits rather than operations-because delays are the name of the game in personal and business life
at any rate timing for ship couldnt begin til custom separator arrived Dec 24 and was operational Jan 7 2011-it was over 1 month late due to the manufacturers sub suppliers parts problems etc-
CWRN didnt sue the manufacturer -these delays are part of the real world and to be expected -thus grown ups dont sue over them
and ship arrived ca Mar 24-despite ship co delays this was only ca 2 months and 12 days after trucking began-and trucking could not begin any earlier because of manufacturers delays CWRN wasnt responsible for-and trucking could be expected to take 2 months 1st time around-so there wasnt any chargeable delay imo
so CWRN wasnt responsible for any delay to my knowledge
there werent any chargeable delays -
this was the fastest mining startup I've ever seen,
CWRN was not responsible for manufacturers delays or shipping co switching ships or ship co re-opening ship contract because of Libya war-and wasnt responsible for the Libya war
