Not sure what that really means.
One of the strengths of GCO was supposed to be the very even grade of the ore.
The dredge is currently running at 90% of nameplate capacity. At current mining grades, if the dredge reaches 100% productin as planned, zircon will reach 84% of nameplate production (NP), rutile and leucoxine will be 84% of NP and ilmenite will be 93% of NP. The shortfall will be mostly unrealised profit. I have no idea how this will turn out.
Unfortunately with MDL investors are still buying on "faith" in the management.
Management are paying themselves far to much for such underperformance at Grand Cote.
Until investors can understand the financial performance of this stock, it will lose its attraction. There are other more compelling investment options at the moment.
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