They are currently producing 500,000 oz silver per annum, before the upgrades ...which should see them producing 1,000,000 oz p.a. by years end which by my calculations is breakeven, given they are spending about $4 million a QTR or $16 million a year...so breakeven is about 1,000,000 oz p.a. at $16-
If they can manage to top these production rates or Silver goes up further (which is a given)...they are OK.
They are close to breakeven and then cash-flow positive..but have not articulated that to the market.
Hopefully they will wake up in a hurry.
MMN Price at posting:
4.8¢ Sentiment: Hold Disclosure: Held
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