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18:52
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Originally posted by sjbomber:
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I would like to believe coto is on safe ground in his assumption that Hrz's current mining is already profitable, however at this stage I agree with your assessment that until we know the costs we cannot be sure. I have had concerns for some time regarding the lack of detail on costs for the toll agreements. I understand that these arrangements may be commercial in confidence but surely we could be advised indicative numbers. My unease about these "hidden" costs is exacerbated when recalling lowkeyinvestors story about Greenstone toll milling that did not return a dollar to Gsr due to revenue from gold sales not exceeding operational costs (although this was never adequately explained by the company). Hopefully, these current agreements are tighter contracts than those administered by Gsr. Regardless, is it too much to ask for a clear statement on how much Hrz has banked from the gold sales to date?
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I recall 6-9 months as they needed to see the September quarterly report, maybe December's too.
(20min delay)