BoB, I am talking about further delays and people running out of patience. I have visited the site twice and kept my eyes and ears open. I will state some of the possible delays I envisage while stating it is all supposition on my behalf, some things may have been done,be being done or not need doing. I can see the shaft needing further work, The speed of the new winder and extra carrying capacity per load may lead to stresses that mean a lot of rebolting needs to be done. There needs to be rail laid to the stopes further from the shaft. Last time I was there the timber of the 9lplatform needed removal and replacement by cement, perhaps this is needed on other platforms as well. Getting the old girl up to modern day OH&S standards is a legthy and on going task. Regarding the mill, the gold in the concentrate obviously isn't presenting on the Wilfey(?) table as primary ore. This means tweaking of the mill process needs to take place, crush size may need altering, more regrinding may need to happen. I can't estimate how long this may take, you can bet they are working flat out on it though and for all I know may not be an issue any more. BoB, I am a mere layman but have talked and listened to many far more knowlegable people than myself and these as just a few of the issues they have mentioned. Many on this forum simply don't recognise the enormity of the task and expect things to happen quicker than, in reality, they will happen. Those of us who have held for a number of years can probably remember that the 1st gold pour was to take place in the 2nd half of 2008 via toll processing!! The gold is there, I think the company will succeed( as I still hold)but, to use a slightly altered Tony Abbott phrase, stuff happens. Many in the 'market' want windfall gains in unrealistic timeframes, that the MCO share price has held up so well is a testament to the holders involved but there is an undertone of impatience which may well cost those who lose patience a lot in the fullness of time. Just the ramblings of one who is here for the long haul!!
Cheers Mal
MCO Price at posting:
43.0¢ Sentiment: Hold Disclosure: Held
