Well if nothing else the new CFO has quite literally been through hell at Calidus, hopefully that will have given him some life lessons (perhaps most poignantly right now... not to use hedging, but other avenues like buying options............... Calidus holders know exactly what I am talking about). Calidus did everything right in regards to building the mill, costs were kept under control, execution was not the issue... the gold just was not there (and the hedging and debt were the final nail in the coffin. Hence I view the new CFO as basically being a casualty, not a cause. I am hopeful that MM8 will shy away from a large debt funding solution, and instead use equity. Sure... dilution is not great, but it's far better than having the debt slow you down (or... drag you down).
My only frustration with MM8 is it's moving so fast... that I cannot take a meaningful position. hmph.
MM8 Price at posting:
15.5¢ Sentiment: Hold Disclosure: Held
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