the real per oz production cost of twin hills, page-37

Finicky,

Appreciate your posts as mentioned before. I agree all the problems are very frustrating, and MMN has been a frustrating stock for me also, been in for a long time, sold a small portion near the highs, and have traded portions also. Have been buying more recently.

You've nailed the broken promises bit. Ie claims vs reality. The question is, is this specific to MMN or to many, or even most juniors at production start-up? It seems to me its the rare one who doesn't have some problems and that is why SP often falls after production start-up, and only rises quite a bit later when problems are ironed put. Since the SP is also 30-40% down from recent 30-32c level, (and 60-70% down from mid-high 40s in May 06) then there is no problem, just an opportunity now. If they were having these production problems and SP was 60-80c I'd agree, there was a lot of unreality in the SP, but at present I'd say its fully marked down, hence any improvement in both Ag price and production price means a rapidly rising SP.

Secondly, a very small point, but while production needs to 5 fold from Dec to reach targets, if Dec Qtr was 46koz, and Dec was 37koz, that means Oct and Nov were 9koz between them or 4.5koz each. Hence there was already an 8 fold increase from November to December, another half step like that and we are nearly there.

My background is economics not engineering so I can't tell you what the probs are, but with enough engineers on the case, there must have been the very real possibility of 180koz/month. Whether the probs were bad management or unavoidable I can't say, but to me the original targets should still be reachable, even if it takes longer than originally thought. I hope so anyway!