Problem with "cheap" junior miners is that they are usually in trouble due to exhausted (or low) reserves, high strip ratios, poor ore smelting types (i.e refractory) or remote (e.g island) locations potentially in a high sovereign risk area (e.g west Africa). Sometimes management is also poor but that is usually not just replacing the CEO but can mean renewal (or re-motivating) the workforce (a major problem). In many ways it's easier and better to look around for "cheap" plant and relocated to a fresh site (such as McPilly) and start anew under an experienced management. Mc PHilly is close to Cadia (Newcrest best mine) so should be able to poach skills from them.
RRL Price at posting:
$1.65 Sentiment: Hold Disclosure: Held
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