delays may have been a good thing

most share holders including me have been disappointed by the delays in getting the mine up and running, however in hindsight I think it could have been a good thing

think about it - if we had built the mine as per expectations we wouldn't have benefitted much from the higher gold price ( your not producing anything while your actually building the plant ), the cost would have been higher ( mining industry was a lot stronger then than is now ), it would have been harder to get workers and we would now be in a situation of producing but with prices now falling
as it is we can ,subject to getting the finance,start to build sometime this year and be in production next year with the benefit of reducing capital costs and hopefully lower operating costs ( more able to get suppliers to lower costs, more available workers )
most importantly in my opinion a rising gold price probably soon after the german elections ( the ecb won't do much until then )

my reason for a rising gold price in my opinion is

1- nothing has fundamentally gotten better
2- ecb will start to print after german elections ( politics!! )
3- I give japan about 12-18 months before the have a major crisis
4- usa will continue printing despite the talk of scaling back or stopping ( they may in the short term scale back or stop, but!! if they do they will quickly see the economy tank and share market crumble and therefore restart qe )

I am sure a lot of people will say but what about the oppies they would probably be in the money ( I feel your pain I copped a belting on the oa's and probably will on the ob's ),
however there is a difference between trading i.e. the oppies in my opinion and investing in a company i.e. fp shares , investing is for the longer term and trading is a shorter term outlook ( you win some and you lose some, that's reality )

so taking all above into consideration as a long term viable investment I think mutiny may have actually dodged a bit of a bullet and benefit by producing when the gold price is rising again - hopefully to all time highs

cag