RE: RE: Upside too much to vote for Luxor,s offer This is merely the informed misinforming the uninformed, which is not unexpected.
Luxor is having problems locking up votes, so they have put out their very worse case scenario.
Once they gain control, they will announce that Stan is gone along with other management changes, and a new mining plan.
My estimates for Cosmos ( 55,000 oz ) was spot on, but was well off for the open pit production.
No explanation was given for this production underperformance nor was there any explanation of the much higher ( implied ) Cosmos cash costs which are stated to be $552 per oz.
They now say that Cosmos will take a full year to ramp up, up from 6 months a few days ago.
Yeah, right.
" So far in January, a total of 6,000 tonnes at 3.4 g/t Au of development ore has been mined. Since the changeover of the underground contractor to Leighton in early 2011, the company has achieved an average of 37-per-cent increase in development rates per quarter sequentially despite the difficulties associated with the delay in commissioning the ventilation system.
Chief executive officer Chantal Lavoie commented on the progress following a recent site visit: "We are very pleased with the progress at Cosmo. Cosmo has now reached the threshold of sustainable development ore production. The site operational team is clearly focused on ramping up production over the next six months to achieve targeted production levels."
In this scenario, none of the operational optimizations planned for 2012 are stated.
Its obvious why.
With this forecast, Luxor could have picked up the company for well below
.50 by just being patient.
So, why did they boost the price to
.62 and still not could not lock up any blocks of votes other than those of Judas ?
LOL