@dazaliam ... "bigger fools" in terms of selling comes from terminology involving ponzi schemes, where early players get out at the expense of "bigger fools".
The stock market at the junior end is very similar to ponzi schemes where every director of every company is always selling the sizzle of whatever project. Over the last few years I've sold out of quite a few companies that were a lot more sizzle than meat, and I put my reasons up on these threads when I sold.
FFX, (though I got greedy saving some for this financial year to spread the cap gain), SGQ, PO3, PET, CDU. Of those only 2 are currently trading with SGQ down 75% from when I warned people, PO3 down over 90%. So yes I sold to 'bigger fools' that wouldn't do the research to show them those investments were no good.
Just for those that don't like my numbers, I've taken the unusual step of treating the 'mining cost' as being the 'real cost' for just mining ore and the strip ratio waste, which BTW it should be, with pre-strip etc a part of development expenses, not operating expenses.
This would bring the mining cost to $US5.60 per tonne moved, basically double the LOMP. At this price the company would be cashflow negative, mining just Morila ore, at the 1.4g/t rate (above LOMP rate of 1.33g/t for the reserve) and the full 91% recovery rate, not the current 84.3% current recovery. (AISC is around $US1,926). So we better hope that the mining cost includes other stuff!!
What working out these numbers does show, is that the mining cost per tonne moved needs to be known by shareholders to work out where this is heading, and further why are the processing costs and site administration costs way above LOMP??