Australia's largest stock trading and investment forum Australia's #1 stock forum

CSD consolidated tin mines limited

0.00%

12.5¢

No NOM what now?, page-6

First 6 Last

Share
Profile

Follow
Meteor

13,592 Posts.

295

04/08/19

13:59

Post #: 39850107
Share

Originally posted by Philley: ↑

As some of you know I have a lot of money tied up in CSD...I read the announcements from the company and the contributions of HC members but I don’t contribute...we all know the history although there interpretations of how we got here...I have lost contact with management possibly because I am small fry now.
The situation is difficult to understand as the company is not being transparent...it was the case when it was going under and now the case when it is unlisted...just minimum information! Perhaps both situations understandable.
So from WA I flew to Cairns,hired a car and went to Mt Garnet..I undertook to see what it was like on the ground...positioned my self at the Mt Garnet Motel...500 metres from the mine and interviewed a series of top management who getting coffees there in their break.
What impressed on me the most was the surprise of the visit...so I felt the answers were not evasive but genuine.
So here it is;
1.About 200 working...just before the VR it was down to 80.
2.Plant seemed to be working close to full capacity.
3.Maitenance ...of equipment seemed in good order...just before the VR everything was breaking down and they were screaming for money to repair it.
4.Grading is an issue until the encounter the higher grades in the new area Mt Garnet Deeps...so the monitoring and mixing of ore is critical.
5.Progress...it seems like a lot of money has gone into developing and refurbishing the mine...I was told there was big changes in the underground since I last inspected the mine...3?years ago.
6.Communication??...during the chats I was told that each had a specific job and basically they kept their head down and did not look at the strategic objectives of the company or it seemed that cooperation and teamwork was a low priority..contrast that with FMG (Fortescue) from the lowest paid worker(give us ideas on how we can develop more efficiencies) to the highest paid mine officials being integrated with the board....everyone was pulling together...bonus share for achieving objectives....pride in workplace objectives being achieved.

Maybe wrong...but strong impression.

I will leave it with you all.... to form your own impressions

Expand

Thank you so much for that Philley - I had a picture of much of what you said from the anns that have been made and confirms that the delay in full production is the grading and availability of ore which is being addressed and should be realised in Sep Qtr?

Not too fussed with the comms - this is a small co working hard to achieve short-term goals. I am certain it will not be an issue this time next year?

Good on you for doing what you did - tax deduction and hope it was a nice break!

CSD Price at posting: 25.0¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

ASX Market Close: Iron awe keeps the XJO tracking along

Japan tariff deal inked at 15% – as long as US gets half a trillion of investment

TMG

Trigg brings famed Finnish metals refiner – and its tech – onboard to bolster antimony processing

Listen: HotCopper Wire Podcast 019 – Dreaming of the 9,000s

TLX

Telix sinks as US regulator SEC issues subpoena over claims

First 6 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.