"long term holders breaking even" - oh we can dreamYep Red...

"long term holders breaking even" - oh we can dream

Yep Red October seems to be a real dog of a thing - not sure whether SOG or Saracen ever made cash there, but MAT sure didn't.

TBH I shake my head when the reports claim RO resource is 200k Oz @ >7g/t, when mining 3g/t was impossible for MAT. Must be a very difficult orebody.

I agree the mill focus is the wrong thing, it costs $60M plus if the head grade form RO vs modelled grade was sub 50%, why would I believe Devon is really >4g/t. Imagine spending 60 mil and then having terrible grades, nobody left to blame at that stage.
If the ore processing deal is so bad for profitability I would rather they shop around; Gwalia, theres a mill out Murrin Murrin, even King of the hills will be online soon. Shop for a better deal on processing, before dropping 60M on a mill. Where do the other small miners like LGA process thier ore, and why is that not good enough for MAT?