I am not going to make a prediction but anything substantially less than that or without an underlying net profit from operations, used the pay down a decent chunk of the debt will have me selling my shares and keeping an eye on things from the sideline.
I would have liked to have seen them give the figures in their last update, instead of just stating that there were higher grades and throughput.
Even if they did provide pro rated production figures, I guess it wouldn't matter if they had processed and sold 8,000 ounces, if their production costs were the same or more than their sales revenue. Their production costs are all that matters really.
I guess we will find out in a couple of weeks.
If they could do a deal with debt refinancing in the next couple of weeks I think it would be very well received by the market, given their recent resource upgrades. But I think the key with this company, at this stage, is showing the market that they are capable of running a production company profitably.
Just my two cents.
DYOR.
MKR Price at posting:
46.5¢ Sentiment: Buy Disclosure: Held
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