GREY:LACHF - Post by User
Comment by
RedHorizonon Feb 18, 2009 8:38pm
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Post# 15788126
RE: RE: RE: RE: Looking Good
RE: RE: RE: RE: Looking GoodPokinfun:
LMA has plenty of liquidity, checkout the company presentation on their website. They do have some debt but it is not a material issue at this time. Most importantly they are cash flow positive and their costs are coming down. They recently announced that their expected costs for their 3 main mines will be $497 per ounce for 2009.
In 2008 their costs were above $500 per ounce. They are being helped by lower oil and the lower Australian dollar.
They have also announced that the development of the White Foil mine will only involve a cash investment of $1.5million to get this 30,000 ounce per year project into production. They have substantially more cash than that.
Best of success.