As a longer term holder I remain confident of my investment in Morning Star.
It's sp has declined over recent months as nearly all (precious metal) mining stocks have - so I don't draw any negative conclusions from that.
Bringing the mine to a sustained profitable production level has been harder and taken longer than anyone expected. But there have been various unforeseen reasons for that eg Winder recall, getting a suitable CEO,etc. No point in looking backwards now.
Why Chillee has withdrawn it's funding is a moot point. But I would be confident it's not because of any inside knowledge on drill results. Drilling to date has been exceptionally fruitful in terms of finding new reefs and grade, and I particularly look forward to results from the Gap Zone.
With the hiccup in funding I think it only reponsible for the mine to be closed down and the workers sent home. Unfortunate for them to be sure.Nick's expertise is in finance and I trust him to overcome this temporary set back.
Nick, and has mate Dave (Yarrandi) have a lot of money on the line and at present they are holding a huge paper loss. So I am sure failure is not something that's on the agenda. Likewise Chillee and Ample Rise have large stakes that they will not allow to go down the drain.
I think we should all take a Bex and lie down and see which way it all works out. It will work out, just as the price of gold and silver will rise. There are posters who get a peverse sense of satisfaction posting negativity on this forum and we need to discern their motivations.
For me, I believe MCO is on the cusp of an exciting future. We have all the plant we need and it has gradully been fine-tuned. We have all the infrastructure, we have a CEO who has got the place humming. We are identifying multiple ore sources to ramp up throughput. We have high grade gold, etc etc.
It has taken longer than anyone hoped for. But for me, I am not giving up now and recently bought more stock. For everyone who sells there is a buyer there with a contrary view.
With high expectations I wish all holders good luck.
Hag
MCO Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
