SharpshooterAre you refusing to go quietly into the night? The...

Sharpshooter

Are you refusing to go quietly into the night?

The MCO stalwarts are out in force seeking dreams from a mine that will be operating on a one shift basis (8 hours I assume) and may be bringing up 26,000 tonnes of ore per year. By my calculations (15 grams per tonne, 85% recovery), they may only produce around 11k ounces per year (about $18.7m in gross revenue per year based on $1700/ounce). There may be no change left over, after accounting for the cost of running the mine and some basic exploration, for any future mine development.

MCO will need to have an extra shift and to operate the mill to its 80k tonne capacity to generate enough of a surplus to fund future developments and a proper exploration effort.

Beware of further shareholder dilution, unless they get this mine working soon and are able to ungrade the winder so that they can feed the mill to its full specification, and assuming that the grades are good (15 grams/tonne).

Yawn. Another day in the life of the MCO fairytale.

What the heck happened to all that ore they have already hoisted - it was supposed to give them a revenue source.

loki (agnostic about the MCO fairytale and awaiting the usual TD)