DeadG".... The current cost of gold production/oz by Co is stated at $884 ( if you can beleive the Co after its failure to come clean in the last quarterly to shareholders) then with gold spot price currently say at $1,100 it doesn't leave much leftover for profit or Co expansion IMO all it will acheive is pay the directors outgoings for a while longer and keep them employed. If gold spot price was to drop any further than the current levels then it will become uneconomical for this Co to continue/survive in the long term. The Co has had sometime now to get production costs well down and under control but they have failed to deliver again and to top it all off production costs had resen considerably since the previous report.
This is what I beleive the share market is currently looking at and the stock market, institutions and investors will react strongly to this lack of profit in any future capital raising by this Co or its return to the board.
It will be also very interesting to see how AGP will react. If AGP pull out of the Convertible Debenture agreement then that also will show that AGP has grave concerns about the Co as a whole.....
MUN Price at posting:
18.3¢ Sentiment: Hold Disclosure: Held
