I have avoided posting on this company for a long while but I keep a watching brief going. My skill set is geology/metallurgy/ mining not management so I will keep my very few comments well away from whatever people issues the company may or may not have.
The mine is geared to operate on low tonnage. high grade ore. Now that the winder has been upgraded, extracting that ore will present fewer problems. As Plough points out, the dip of the ore sheets will be an issue but high grades mean that narrow vein techniques using scrapers, sublevels and ore chutes should work. These are the techniques that worked in the past. Gold is now worth 50X more.
The ore metallurgy/ mineralogy present problems that are as yet unresolved as far as I know. Platy gangue minerals along with dry? processing at the front end of the plant are likely to creating more headaches than a flagon of rough Riverina rosee.
I have been based in Europe for the past two months and haven't had the opportunity to visit the minesite. I would be really interested to know how well the processing plant is functioning. Any feedback would be most welcome.
Please ignore the sentiment. My interests are centred on technical aspects of MCO operations.
MCO Price at posting:
30.0¢ Sentiment: None Disclosure: Not Held
