Ahh Danhoff - lighten up a little and stop taking it so personally! After all - it's only your money!
So what's in dispute?
Are you contending that today's close of 17 cents is not a 52 week low?
Are you contending that an increased perception of risk = market rerating of price downward is not possible? If so - explain what happened today!
Are you contending that it didn't cost well in excess of $1.3m to produce $1.3m worth of revenue in the March 2013 quarter?
The difference between KGM and FML is that they are closing an older producing mine - you may well be closing a brand new mine directly (if things continue as they have in the previous quarter)!
You say that underground mining will be "lower cost". Where on earth did you pluck that from?!? From what I have read - KGM have nerver said that. Anyway I would contend that in 99.9% of cases that underground mining is far more expensive than open pit mining! It's also very much more RISKY!
The company's statement is noted - however as gself agrees - this type of announcement is exactly what markets don't like!
As for all your personal attacks - take a bex - or maybe refrain from posting late at night after "a few too many"!
I think you have corrected your previous statement (yourself) that I'm an "unexperienced" poster (having conducted some of your own research).
And just for the record "uneducated, unread, unexperienced" should read "uneducated, unread, inexperienced". But I will put that mistake down to the highly emotional state you seem to be in currently!
KGM Price at posting:
10.9¢ Sentiment: Sell Disclosure: Not Held
