Ann: Quarterly Report ending 30 Sept 2011 , page-8

What I liked was:

1. the 27,000 metres of drilling into the Gap zone and satellite deposits. They would be expecting strong cashflow in order to finance this to avoid dilution.
2. Sampling of ROD dyke has averaged 19.2g/t au from 50 samples.
3. Cash on hand of $7.6 mill.
4. The gravity mill is currently ready to accept high grade ore for treatment and this is expected to commence in November 2011.
5. MCO are confident that the Mill's current processing rate of 10TPH can be met by the upgraded haulage profile. Futher haulage upgrades have been flagged in recent ASX announcements. From memory I believe they can increase haulage to 22TPH.
6. New Shallow mineralised areas that will be accessible to a large degree from existing developments off 3 level and sub-drives. Coupled with grade factoring this will likely make these areas profitable to mine.

I am really looking forward to the next two years and celebrating with those who have held for the long term and the newer holders such as Columbia and Quinty.

It appears good times are ahead as reflected in the share price of late amist the doom and gloom of gold and resource juniors being smashed.