A $40M MC looks cheap at the face. But I would not touch it, unless at least the MD/board is replaced. Can't believe they are still at the helm. No credibility at all. One has to deeply discount what they said to have more realistic view of the company.
I am not following this company closely. Can someone kindly brief me what are the main cause of high operating costs of this company? @loki01 nailed it correct many months ago that the then low AISC was not sustainable. Is this mine really unprofitable essentially?
By the way, a quarter with Admin+Staff costs $5.3M, for a $40M company, looks mind boggling to me. With $6M in the cash and bullion, can they get through next quarter without CR? If going for a CR, what price would that be? Or there would be a white knight come to rescue with a big cheque?
I noticed they are using MACA. Does MACA do decent job for BLK? Or are they screwing up BLK like they did to BDR?
Watch from sideline with curiosity.
BLK Price at posting:
3.1¢ Sentiment: None Disclosure: Not Held
