As commenter Fredrik L says, concisely and transcendently,
So a bankable feasibility study is just a well formatted and über designed guesstimate. No wonder that most investors are turning their backs on the sector, and they won't be back in a hurry.
And this is what Garth Kirkham P.Geo. needs to understand. This is the basis of the 43-101 discussion that our little vom-soaked corner of the blogosphere is trying to start.
You guys are getting no more fucking capital from the capital markets, ever. Not until you clean up your goddamn act. Which begins with the proper apportioning of blame.
Til then, no new mines get built, no more exploration happens, because you are getting no more capital. Because capital got its ass handed to it. Your admitted-faulty system lost capital money. And so capital has decided it'd rather be somewhere else now.
Like I've been saying for 2 years, you guys have re-enacted the Bre-X fiasco. Except this time the entire industry joined in.