Not sure if you saw my post regarding how the production costs probably came to appear so bad. I don't think the figures can accurately represent a true cost per ounce due to the tailings dam incident... I think money would have been committed before they realised they would get nothing back for it - completely skewing the figures. (An analogy might be like buying 5 cake mixes and mixing them all up and the oven dies after baking the first 3... not ideal)
I'm interested to hear your opinion of the figures shown at 3.1 and 3.2 of the qtrly and where that 3 Mil came from... do you reckon it's the remainder of the AGP debenture? I don't know... but the difference between these and the last qtrly figures suggest it might be.
There's no point second guessing the AGP position without some indication by either party.
Who knows, perhaps the raising will coincide with a positive AGP due diligence report... may do wonders for market confidence... (the alternative isn't pretty however).
As disappointing as the last couple of years have been I still believe MUN will turn the corner.
Siamese pointed out that they lost a couple of weeks at the beginning of this quarter... but with the stock piling and maintenance carried out, as well as the improved recovery results i'm hopeful that the next qrtly will be a more accurate reflection of where the company is really at.
Some folks will see this as the final straw - others as the perfect entry point.
Cheers
MUN Price at posting:
18.3¢ Sentiment: Buy Disclosure: Held
