GREY:NWMMF - Post by User
Comment by
eduardo12on Dec 07, 2012 1:27pm
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Post# 20699592
RE: NWM Performance
RE: NWM Performance Yes that is why most of us, if not then all of us, want to see the CEO step down. They hired new management team with proven capabilities as decribed in previous NR.Will be interesting how this goes. Diluting is definitely not the way to go.
Ramp up mine plan is very critical for any company and all targets should be met with a proper scheduling.
After reading the latest MD&A, it seems that the leach pad issue over a year ago has delayed the ramp up and full production. It says they are behind in production 3-4 months (pretty much a quarter). The finger points to Chris ultimately as he signed onto reusing those old pads.
Also, they will reduce the strip ratio to around 1.5/1 which will reduce the Q4 production costs (to I'm guessing around $800) and generate cash flow. 18-20k is estimated for 2012 (Not 20-25k as Chris said in corporate update). They are still mining 5000 tpd til year end.