Morning Star Gold NLFor shareholders the Logo of Morning Star...

Morning Star Gold NL


For shareholders the Logo of Morning Star has lost some more of its golden shine following the passing of the last suspension date of 29/04/2014. At this point in time no further action or advice has been received from management as to the company’s current position.

This company has now been in “Voluntary Suspension” for the period of two years and it is a sad to think that during this time, little or no information has been provided by management that would instil any confidence in that one day we may again be a successful operator following in the path of the “Glory Days” that once existed with this mine.

I took up a shareholding because I had great expectations for this local mining operation and against my better judgement, continued with the holding to the point where sentimentally took me beyond the point of no return and where the portfolio sheet for this holding now shows as a red debit over which I have no control.

So be the learning curve that endth the lesson - “Assess only on fact and leave personal feelings and emotions where they belong.”

However the above is now past history, so where do we go from here?

This I am afraid to say, I now have no idea as the crystal ball shows no clarity as to what the future has in store.

I must say however that I do not consider that the management have during the “Suspension Period” to date, been sitting on their hands; in fact I think it has been the opposite with NG and Co administering and making every effort to keep the company alive and to also arrange possible recapitalisation for the continued operation of the mine.

The position in which we currently find ourselves is most unfortunate and the reasons for this would be a matter of opinion and no doubt would create a great amount of debate amongst the shareholders. However I feel at this time it would be inappropriate to enter into this field of discussion as I feel it would serve no useful purpose.

The gold sector as a whole is currently not the flavour of the month and besides, the operation we have, would not be to an investors liking for many reasons, such as being to small in relation to output, being a recycled mine with possibly most of the rich areas of gold already mined and the most important factor of all, being the current POG, this being the main defining factor in the company’s operation to be profitable, which relates solely on the all up cost per oz. associated with this mine’s production.

I am sure the Board of MCO will address all aspects pertinent to the company’s future and will no doubt consider other possible directions, which could make the company more attractive for investment, and therefore, as a shareholder I have no alternative but support the Board of Directors with there current endeavours and hope they will possibly achieve the most favourable of outcomes.

In not having any other alternative I am more than happy to hang on by the fingernails but only if management would on a regular basis come to the fore and give some creditable guidance statements and factual information as to the company’s future together with monthly progress reports as to the possible recommencement of mining otherwise in IMHO the sooner we exit the whole sad affair the better.

All comments contained herein are solely the personal opinion of the writer and should not be taken as a guide for persons that maybe considering their current or future position with this company.