Ann: June 2010 Quarterly Report , page-6

Reiner their could be a number of factors. ie these guys are producing less than half the grade of ore compared with the likes of SLR.
Also their recoveries from memory are low (in the 80% range)
THen there is cost of running the plant having to use diesel and not gas means higher power costs.
Most mines in a similar situation would have closed down by now , have to admire the MDs tenacity though to try and turn it around unfortunatley the horse has been flogged to death, dont know how they can stay afloat unless they find some higher grade ore.