All sounds good except for cloud that surely hangs over the Board due to hopeless economic modelling of Murchison and will not go away until positive results from changes filter through and a definitive development plan is mapped for tenements acquired from IGR...not some airy fairy and nebulous numbers.
On a positive note Mt Monger appears to remain the jewel in the (dented) crown for at least the next ten years:
• FY14 gold production guidance increased from 120 - 130koz to 160-170koz
• FY14 H1 production = 96.6koz
(From March preso)
One thing that irks me a little also though is this snippet from that preso in relation to development of the Magic deposit:
A$24M for floatation circuit & pre-production mine development
– potential to reduce capex (-A$14M if toll treatment option available
They surely couldn't go to the market again, could they?
No wonder buying pressure is sporadic and shorting is still going on when these doubts loom on the horizon.
All sounds good except for cloud that surely hangs over the...
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