Luna Gold LGCUD

AGM

[mork10]

Anybody in this community attended the AGM? It would be useful for the rest of us to know what came out of it and if anything relevant was said. I´m kind of surprised at the lack of news lately but if you think about it we should not expect anything very significant before YE 2012.  Remember that at the end of last year Luna more then doubled its Aurizona resources and that drilling will only start in the 100% owned Luna/Maranhao Greenfields in Q3. This means in my opinion that we will not start seeing drilling results before Q4 and an oficial Ni 43-101 resources report before Q4 of 2013. The only semi-significant news that we can expect in the next few months are the increase in plant capacity & production to a rate of 100.000 oz/year which is schedulled to happen in Q4 and hopefully a decrease in production cash costs. They should also publish in the next few months the results of the economic studies to increase plant capacity to 200.000 oz/year and beyond and how much that would cost. In the mean time gold mining stocks continue to be out of favor with investors but at least the price of gold has held quite nicely above US$ 1.500/oz. I´m not sure about "talent having left the company long time ago", it seems to me that the opposite happened since they replaced the prior executives & managers that were responsible for the initial Aurizona production problems. Since Luna Gold is no longer just a junior explorer but a junior explorer + production mining company, improved results will take time but at least they should be cash-flow positive by now and can continue exploring and producing w/o having to rely on external financing, at least not before having to double plant capacity. That in effect  is a major plus under the current world economic/financial situation!.