Seems they aren't traveling well. Sp down from $20 to <$9 with production and weather woes.
Seems they have "antiquated" plant. Did Secold have a hand in that? (Do I remember him buying a second hand plant for Occampo?) And troubles with their heap-leach in the rainy season and now they're in the path of the tornado. As I remember Secold originally planned a heap-leach process but fell behind on the plant when metallurgy showed vat leaching was preferred.
Miner10 posted this, in part, on Stockhouse: Q 3 will be substanialy worse than Q2 less than 50,000 ounces (as compared to 58,000) and maybe less than 45,000. This will also result in a higher costs of production per ounce than the ungodly high $614.00 per ounce of Q 2. Listen carefully to the conferrence call (link is still active) what you will hear is company is still suffering after effect of lightening strike on mills and broken conveyor belts on equipement that management described at best as so antiquated they immediatly ordered replacement equipment. Replacement equipment has yet to arrive and company will be borrowing up to 50 million to pay for it.
The high production costs concern me as this is in Mex.
BTW PJO having a nice jump on the TSX.
BSG Price at posting:
0.0¢ Sentiment: Sell Disclosure: Held
