$3.7 million gold production .... how much is left?
What is the current cash and creditor position?
Production stats ... graphs stop early July? why?
Supergene .....is this as good as it gets?
Gold room ... 95% parts on site...THEY WERE THERE MONTHS AGO!
2 shifts production ... costs extra $400,000 per month!
Increased accommodation for 60 personnel ?
TRIP OVER EACH OTHER They are over staffed!
Zeta ... low grade and distance? 17th April 2009 Est mineral reserves shows Zeta with Indicated 17,890 grams at5.9 grams per tonne plus Inferred 287,516 at 1.2 gm/t
JW you omitted the Indicated and how much did all the drilling cost? you forgot to mention ETA sale for $1m? 90,040 grams Inferred @ 3.8g/t as good supergene???
"In Central Pit the water level is being lowered ahead of mining"
Is this from where the prior wet ore was being processed?
"Accelerating exploration on its new Gamma tenement and existing tenements (Budget up to $2m)"
Where is the money for this coming from?
If the current resource is for real, process it for 6 months and prove you can make and save!
"There is now more continuity of ore supply to the plant by access to the supergene ore zone which is expected to beyond the limits of the current designed pit. Cash flow is also expected to significantly increase from the higher gold grades being mined."
Ore head grade 3.3 gms, blended with Nth Pit dry ore for blending at 2.3 g/t
Stop spending, reduce number of people on site, get rid of WATPAC and get smaller trucks and diggers, get rid of J. Williams.
Phone the "so called" Independent Director Ross Louthean and ask him ALL YOUR questions plus
1. what is the cash position.
2. what is the cash burn rate
3. Who is the senior geologists, mine manager, process engineer etc
4. Are any of the geologists, mine manager, process engineers mentioned in ASX releases from 2008 onwards still on site? If not why do they all leave?
5. Why did insiders convert 7.5 million options and would they have run out of money in January 2010 if these weren't converted.
6. Why didn't he convert any options?
6. Lets have a truly independent director!?!
Just pressure him to release real information.
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