The tugs and barges are supposed to be larger and from local sightings the tugs are. I have issues with the reporting of budgeted site costs during the ramp up. I can understand if people are saying that "he has no idea". The ramp up reported initially was the first 3 months of production and now its the entire period pre 6 million tonnes. It took MMI much of the year to actually indicate that budgeted site costs were in line with expectations but we don't have a BFS document to actually make sure that is correct. Some people have mentioned to me the place is "a toxic work environment" , however I will give MMI the benefit of the doubt. There are also some indication that there is a uncertainty about this owner miner transition and SAB is still indicating they are still servicing the mine and are a major investor. If site costs were not an issue and with no mining over 3-3.5 months of the year are we actually going to save money?
MMI Price at posting:
13.5¢ Sentiment: Hold Disclosure: Held
