In their most recent presentation they confessed to currently producing no more than approx. 1,500 MTU per month. Almost 11 months after production start this is less than 1/3 of their 5,000 MTU per month target. Back in October that didn't prevent them from announcing "record production rates approaching designed throughput capacity" were achieved although throughput was even lower than today! This foul in particular devastated my trust in management's straightforwardness.
The Bonanza silver grades they once announced for Tara can not be confirmed. In other words: This dream is over, forget about silver at Tara! My confidence has been reduced further due to the fact that they tried to sweep this very sad development under the rug by putting it in one sentence right at the end of the 4th quarter activities report with no explanation whatsoever.
CNQ Price at posting:
7.3¢ Sentiment: Sell Disclosure: Held
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