You have probably already read this on the last page of the 2009 full year report, but it's a great summary. (Quote at the bottom of the post)
- Safety was improved a lot in 2009. - Costs of production were decreased by 5% over 2009. - Record production in 2009. - Cash reserves are ~$250m.
- 2010 will focus on fundementals, I guess that means a similar focus to last year. - 2010 will explore opportunities for growth. So we won't receive a dividend from the cash reserves but we might see greater gains if MRE expands successfully.
I am happy with this.
FROM THE CEO
Minaras performance over the past twelve months has been strong in a volatile and uncertain market. We have recorded a good profit, delivered record production, continued to reduce costs across the business and increased our cash reserves.
2009 was a year of consolidation. We focused on the fundamentals of safety, production and costs.
In 2010 we will continue to focus on all the fundamentals and explore opportunities for growth.
MRE Price at posting:
74.0¢ Sentiment: LT Buy Disclosure: Held
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