overview

Good to hear that the Engenho Mine is back in production.Whilst clearing my files i came accross the Dec 2008 quarterly report which in glowing terms anounces a nett profit of $A 1.226M for that quarter. So what happend since then??? All of a sudden one year later this gold producer despite rising gold prices , suddenly needs to borrow $A5M from Anglo to bail them out.Again this leads one to question the actual production cost which in 2008 were given as $A 465 per ounce.What about the Tocantins and Torrecillas deposits are these also now suspect ???.
More answers are need and sharholder confidence in this producer needs to be addressed by the Board of the company.