There have been alot of people on here recently (Myself Included) waiting to hear an announcement from the company to tell them that everything is still going along as planned. Instead of waiting for that announcement I thought that I would write to the CEO John Langford himself and ask him what I wanted to know. I asked three questions they were as follows.
1. Is Mundo still on track to resume full production in Jan?
2. Is there any particular reason for the current weakness in the share price?
3. When will exploration resume?
He replied to me overnight on the 11th of Dec and this is what he had to say.
Hi ......, As you will be aware I am a little constrained in what I can release apart from public domain info. I arrived in Sao Paulo about 2 hours ago and will be at the mine tomorrow. The mine and ore bodies are now doing what they should be. We are installing a tertiary crusher which will assist in processing tonnes and that should be operational by Sat. The development programme at the mine is being reassessed which will increase productivity but we are still working this through. Our budgeted production for the first few months of 2009 will be about 2400 ounces and then should be at the 2800 ounce mark. This reflects availability of ore but is with expectations.
The current weakness in the share price reflects three issues I think, general market conditions, lack of active buyers in the market and frankly the fact that we need to re demonstrate our credibility. I accept that and frankly while we are doing this I have deferred my salary which I should do. I am confident we have a solid future with all the normal disclaimers that our lawyers etc will insist I make.
The new COO tells me he is happy with the mine. I will visit tomorrow as stated and I have no reason to think otherwise.
We continue to develop Torrecillas in Peru, we are doing low cost work at Engenho and Tocantins and hope to be drilling Engenho in Feb.
I am sorry if I have not addressed all issued but I assure you we are very focussed on developing the company.
It is generally interesting times.
regards
John Langford Mundo Minerals Limited 45 Ventnor Avenue West Perth WA 6005 Telephone: +61 (0)8 94298889 Mobile: +61(0)418 935552 email: [email protected]
I have taken my name out but not left anything out or changed anything else in his email so it is straight from him to you. I hope that this gives everyone some reassurance that everything is going along as planned because it did that for me.
I think that from here we should only see the shareprice move onward and upward. Good luck to everyone involved! Any questions dont hesitate to ask.
MUN Price at posting:
13.8¢ Sentiment: ST Buy Disclosure: Held
