G'day sidr. I have a problem with at least one thing that you say. "The company has plenty of cash available and is producing gold at a profit ( if it were a loss, they'd stop producing until tunnelling finished - again basic maths)". HUH !!!!???. Are you saying that if they were producing at a loss of say $200 per oz then they would stop producing altogether?
My understanding is that they are processing the material that is being taken out when tunnelling to get to the good ore. If they do not process this material, which does have gold in it, then they are not even getting the sale of that gold to help offset the tunnelling costs and are just throwing it away and the entire cost of putting the tunnels in has to go against capex.
Regards
Lockitt
CTO Price at posting:
19.5¢ Sentiment: None Disclosure: Not Held
