Lots of things to unpack in this "document". But the main takeaway is that stockpile they kept mentioning as 70g/t was more likely 55-60g/t . Combine that with a 9 month under performance in understanding this material, which one must remember they apparently did even more research on than prior owners, doesn't make for a good outcome.
Even if we are to consider "rain impacts", they are running nowhere near close to nameplate in the Dec quarter and the reason things improved is likely what I have mentioned before. In regards to cashflow for the next quarter it is going to come down to what I already mentioned, natural sluicing is likely the reason recoveries have gone up more than whatever MKR think they are doing with the material. These remaining fines and silver in the circuit will hopefully provide enough income for a few months but then one must think what is next? This company seems to be leaking money to useless executives providing no positive outcome. Obviously one major player has been dumped in that period but looking at his HOLISTICALLY as MKR wrote in their document I would say Karp is done unless a miracle happens in regards to these fines or other discoveries, which I rate as 10% likely. The next guy in line obviously has a history of taking water and turning it into wine, whether lightning strikes twice is up to him obviously but I do not take him for an idiot.
The market cap of this company is not related IMO to what it will get in a firesale, so I am not that concerned overall. Interesting to see how it proceeds from here. They have better mining claims than developers with a larger market cap, but if your company appears flacid when it comes to extracting the metals the share price will obviously reflect that. The SP is already so low that it getting significantly lower is nearly enticing people like myself (or someone else here who piped up) to buy the entire company. Tighten your seatbelts.
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