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Today's PEA announcement from Golden Star (GSS) (GSC.to) is today's microcosm of just why the world of money and investment is pig sick of the assholes running junior mining companies. We can do this in three short bullet points:
1) We start with the title line, which screams, "Golden Star's Prestea Mine PEA Indicates NPV of $121 M for Initial Capital Expenditure of $40 M"
2) We then read a little later on that it's a five year life of mine project. Remember that number, five years.
3) And then, once we've wasted our time ploughing through the stodge of words, we get to this part that covers the capital required:
Get that? You're going to need $94m in capital here, not $40m. Therefore let us make two things perfectly crystalline in their clarity so that even the zombies running GSS understand.
A) It's a five year life of mine project. There's no difference whatsoever between "initial capital" and "sustaining capital" in that type of timeframe. It's capital, got it? Capital. Plain capital.
B) Sam Coetzer, President and CEO of Golden Star, and all the people working with him can fuck the fuck right off.