"• We have achieved “Nameplate” output from the tailings plant. • The mine should be cash flow positive. • 2012 tailings start up and Liquidity issues are behind us."
May I ask you what report you have read? It certainly was not CNQ's! So far the numbers don't show ANY sign of improvment.
It took them longer to get out the 4th container than the 3rd! Average throughput declined from 16% in the 3rd container period to 14% in the 4th container period.
Net cash flow from operations was a negative -0,630M. Revenues from sales of concentrate were a measly $383k in Q4 and $672k in the 9 months from production start. Just as a reminder, the plan provided for a 2 year project with annual sales of 10M!
And on top of it all: Bonanza grade silver at Tara has, well, "evaporated". Just like that. It's gone!
CNQ Price at posting:
8.5¢ Sentiment: None Disclosure: Held
