MCO may have been placed in administration in Nov 14, but the mine closed in mid 2012 when the price of gold was a lot higher .MCO never found sufficient economically recoverable gold- it has been said many times that anyone can recover gold- it is doing it profitably that is the skill!
I think it is very poor that the Board of Directors did not put out an announcement re the Administration- left it to Administrators.
I think mining stopped in June 2012. I checked the cashflow reports for the following 2 years. Unless I am mistaken, it appears that MCO spent over $1.9 million on administration SINCE the stock was suspended and mining ceased. That seems a huge amount to me for a company in the position that MCO was in from 1 July 2012
MCO Price at posting:
11.0¢ Sentiment: None Disclosure: Not Held
