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CSD consolidated tin mines limited

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No NOM what now?, page-5

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boothy21

202 Posts.

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04/08/19

13:44

Post #: 39850024
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Originally posted by Philley: ↑

As some of you know I have a lot of money tied up in CSD...I read the announcements from the company and the contributions of HC members but I don’t contribute...we all know the history although there interpretations of how we got here...I have lost contact with management possibly because I am small fry now.
The situation is difficult to understand as the company is not being transparent...it was the case when it was going under and now the case when it is unlisted...just minimum information! Perhaps both situations understandable.
So from WA I flew to Cairns,hired a car and went to Mt Garnet..I undertook to see what it was like on the ground...positioned my self at the Mt Garnet Motel...500 metres from the mine and interviewed a series of top management who getting coffees there in their break.
What impressed on me the most was the surprise of the visit...so I felt the answers were not evasive but genuine.
So here it is;
1.About 200 working...just before the VR it was down to 80.
2.Plant seemed to be working close to full capacity.
3.Maitenance ...of equipment seemed in good order...just before the VR everything was breaking down and they were screaming for money to repair it.
4.Grading is an issue until the encounter the higher grades in the new area Mt Garnet Deeps...so the monitoring and mixing of ore is critical.
5.Progress...it seems like a lot of money has gone into developing and refurbishing the mine...I was told there was big changes in the underground since I last inspected the mine...3?years ago.
6.Communication??...during the chats I was told that each had a specific job and basically they kept their head down and did not look at the strategic objectives of the company or it seemed that cooperation and teamwork was a low priority..contrast that with FMG (Fortescue) from the lowest paid worker(give us ideas on how we can develop more efficiencies) to the highest paid mine officials being integrated with the board....everyone was pulling together...bonus share for achieving objectives....pride in workplace objectives being achieved.

Maybe wrong...but strong impression.

I will leave it with you all.... to form your own impressions

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Great information. Much appreciated.

Hopefully things are tracking well enough for management to be able to make some of forward looking statement upon relisting. The figures in the June 2019 quarterly aren’t going to light up the share price that’s for sure.

CSD Price at posting: 25.0¢ Sentiment: Hold Disclosure: Held
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No NOM what now?, page-5

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