re: Ann: Twin Hills Operations and Production...
why would you dance with the devil especially during ramp up? are you guys on top of this, even aware of the risks.... what are the details, amounts and delivery dates?
From the quarterly (Jan 31st):
"The current historically high silver price has enabled Alcyone to enter into a 12-month Forward Structure and Pre-pay under which it has agreed to sell a total of 700,000oz COMMENCING IN JANUARY 2012, at an average $33.77/ounce. The facility is fully secured by way of a charge over the Company’s assets.
The Pre-pay of an additional 102,000oz realised a total of $A3 million in cash, strengthening the Company's cash reserves while cash flow from the heap leach operation continues to ramp up."
AYN Price at posting:
5.4¢ Sentiment: None Disclosure: Not Held
