Q. If you bailed out, have no sentiment, why are you bothering with your comments? If you have nothing nice to say, best keep it to yourself
I am no mathematician but if you add up all the costs that was reported in the quarterly, I think you would get the AISC of around US$1,238 per ounce!! I myself wish they would report AISC and I am sure they will eventually.
On a more serious note, how can you demand mine safety to be to Australian standards when you have an underground mine in a 3rd world country?? have you any idea, how people in a 3rd world country think about safety!!
This company has seen the highs and now it is at rock bottom for a whole range of reasons. The Board may and most probably has erred in its decision making process but I firmly believe it has done the right thing by getting rid of the MD (Peter Hepburn-Brown) and bringing back Geoff Davis as its interim CEO is a positive move. In perusing the AR that was released recently, I note Mr Davis still had roughly 3.6M shares in the Company. To me that shows he still believes in the Company and will do everything within his capabilities to right matters. He has lost a fair bit, just like you and I most probably have, but maybe not squillions, like he has!! This guys has serious skin to burn!!
I also think Medusa reports total cash and cash equivalent in gold on metal account at the end of each quarter and you only honed in on the cash component. The difference lies in the receivable section!!
In reality, if you don't own shares and really have no sentiment, I seriously think it is best you remain mum! as it serves no purpose otherwise. We need encouragement not negativity.
Have you checked how other goldies have been performing lately!! Let me let you in on a secret, poorly!! some better than others but generally on a downward trend!!
MML Price at posting:
68.5¢ Sentiment: Buy Disclosure: Held
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