"ss, 10's of millions spent to produce 50 ounces? you're having a laugh. its called building an infrastructure, and that is never cheap."
Oh I see, I see. So just a few teething problems? The almost finished Maxwell's reef that produced next to nothing, wasn't in "production" but part of the infrastructure process. We will call Maxwells the "corridor to Lasseter's reef".
The closed uneconomic Dicko's reef wasn't part of production either. That was also "infrastructure". We will call Dicko's reef the "long tunnel of love to Golden Ridge"
Back at the start of commencing "production" as MCO called it at the time, MCO were targetting 80,000t @ 15g/t for a total of 34,727 ounces for the 2011 calendar year.
History shows MCO produced 12 ounces in 2011.
Aim 34,727 Actual 12
Now, targets or guidance are just that, however when you average just 1 ounce per month, well that's just ludicrous. I can understand some optimism with targets not being met but 99.99% under guidance?? Please.......
When the top shareholders pulls the finance one week after a progress report is released and the mines go on care and maintenance, there is trouble in dem hills.
As for my trading/investing that you seem stuck on, your assumptions on me match you assumptions on this stock - far removed from reality.
MCO Price at posting:
11.0¢ Sentiment: Sell Disclosure: Not Held
