Dodgy everything and the pay packets are just rubbish for such under performers.
However with the $19 million in debt and the current production being on schedule and JUST in line with expected grades there should not be any need for a capital raising now ... The $25 mill of outgoings this qtr will be meet with current cash,production debt.
The next qtr if they could not get to the higher grades might have been tne concern but once again there is only going to be around a $5 mill shorfall at worse .. The sale of Comet Vale will now fill that gap and that is still using a worse case scenario ...
Not sure if Mt Marion is a no go !! It is just that Mineral resources do not want to fund it for a 30% interest and are hoping to ride these guys out to get a better deal - not sure how this has happened !!!!
The major turning point on all this will be March qtrly report and this will see us down to 8 or back to 30 .. That is a GREAT punt from these current levels .....
NMT Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
