I would appreciate some estimates of the tonnage brought to the surface for the past quarter
my estimate is 3,000 tonnes, is that reasonable?
if the quarterly production costs show up as about $600,000 and I add in $10 per tonne for processing and refining and assume about 15 g/t head grade then the cost per ounce would be about $400
(incidentally, cost per tonne about $210)
this would indicate to me that MCO is destined to have the lowest costs per ounce for mining in Australia
everyone seems to be waiting for Banjo's list of "news of head grades, commissioning of the plant, regional drill programs, decline options, headquarters upgrade" but I reckon those will all be OK, no risks there ... me waiting for proof that MCO will be the lowest cost producer
MCO Price at posting:
40.0¢ Sentiment: Buy Disclosure: Held
