Loki, each to his own regarding the merits of the Chinese investment. SLR had quite a head start over MCO being it had a $30mil decline done by Perilya and $30mil cash. They very nearly chewed through that $30mil before production. Yet you expect MCO to be comparable to SLR without the head start SLR had. This is not a SLR knock as I hold quite a few at 16c so they have been a grand performer for me and I know a bit about them but I would be willing to risk quite a bit on tthe fact that MCO grows to be a larger company by any comparison, production, market cap etc. MCOs task in bringing a mine that had been closed for nearly 50yrs was/is far greater than that faced by SLR.
I wish to highlight the following passage from your post- "If things had not been delayed then we would have been a gold producer some months ago and there would not have been a need for a 15% dilution of our holding via the recent Chille capital injection." Things have been delayed due to things that needed MONEY to rectify. Like rebolting the shaft, rebuilding platforms, laying track to the stopes and obtaining and modifying engines to run on said tracks, a new winder and refurbishment of the old one. Include a raft of DPI requirements and dealing with the tailings question and simply put the Chille investment was also needed.
It's easy to sit back and be an armchair expert but do you honestly think that Nick Garling would dilute his and his family and friends holdings just for the hell of it? To suggest that Chinese or European investments could have been avoided is unrealistic and naive, imo!!
Cheers Mal
MCO Price at posting:
45.0¢ Sentiment: ST Buy Disclosure: Held
