just read this very good...

just read this very good interview

http://www.businessspectator.com.au/bs.nsf/Article/Staving-off-the-wolves-$pd20081219-MGC8T?OpenDocument&src=sph

one thing that struck me is that Michelmore is still spending money on Century, which is sure to be a mine that will lose money

look what he says

"We also have a cutback up at our Century Mine which we have to take off the top of the earth on the all body so that we can get access to the ore. That cuts back by 50 per cent mid-year. So, we’ve got this peak cash burn at the moment on that bit of capital there. "

IF IT IS A "CASH BURN" WHY SPEND MONEY ON IT?

Doesn't the company have cashflow problems?

Isn't the answer simple.

JUST STOP SPENDING YOU FOOL!!!!!!

look what he says here...

"In Century the last declared C1 cash cost was 61 cents for the September quarter, but that was with exchange rates of 89, 84 and 80 cents for each of the three months. We’re obviously at a much lower exchange rate now and the bulk of the costs in that mine are Australian dollars, so that one its C1 cost has come down considerably. The issue at Century is really having the cash to pay for the capital."

Hey you dill....just stop the capital expenditure

spend money on Prom Hill but forget about century

this obsession with century is sending the company broke and Michelmore will be responsible