Talentless, when you went to have a look did you figure out what (according to recent quarterly) 100+ employees and 90+ contractors do??!
My concern is that management are running the show as a very high cost operation. Most of these costs are not notional "cash costs" - they are all sorts of other things (including mine development, exploration and admin and "overhead") but they still have to be paid. $3.1m per month before much mining cost means the operation is hungry for a lot of gold just to break-even let alone provide a return on investment. Methinks the lean hungry junior would be a better strategy but management seems to think production of gold whatever the cost is success. CGT management's logic would mean Lihir was a great success at Ballarat. If this is "success" no wonder CGT board/management own almost no shares in CGT? Really the "successful" self-billing should be taken off the website until CGT is generating decent returns for capital invested by shareholders.
CGT Price at posting:
9.9¢ Sentiment: None Disclosure: Held
