OK, sure, the current principal activity of the business is not covering the bottom line as yet which is cause for concern, however,
it is their 1st undergound mine as they make the transition to producer. Production volume IS now increasing as the mine development opens up with a better understanding of the mineralisation.
That along with progressive capitalisation will further improve operational efficiencies & output resulting in a targeted lower cost of production.
We would hope to start seeing the capitalised ROI on the mine SOON as it is being armortised through its inferred lifespan.
Although, the competence & direction of management of this company has been somewhat questionable in the past, the site is now totally driven by the COO. I consider CT to be a credible geologist & continue to reserve my opinion on him & Warrior as he has his fair go to get it on track. Until otherwise, I maintain LT position before passing further judgement.
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