GREY:MLKKF - Post by User
Comment by
brendellyon May 15, 2009 7:03pm
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Post# 15997442
RE: one thing mising folks.......
RE: one thing mising folks.......Highly unlikley ML will have phase two completed for this year. Given construction and final commissioning time, we will be more likely to see this part of the project completed this time next year. First priority is making sure this phase is operationally sound and a few quarters of solid commodity prices before they start unloading a significant amount of cash into finishing the second phase.
Given the circumstance I have no problem with them delaying expansion to save cash as they will need 30 million to take phase two to completion. This will allow the company to accumulate cash from operations and the likelihood of share price appreciation if they do in fact do another share offering.
In the MD+A their is little discussion regarding the expansion, pinning down a timeline at this point in the game is very risky as we have only just begun the recovery process in the markets.