RE: "THOUGHTS".........I think uncertainty about Macmin's position still plays a role.
Personally I'm annoyed about the fact that I didn't know that their crusher capacity was only half what was needed to achieve scoping study production rates. Why didn't I know? Was the rock harder than management anticipated?
I'm also annoyed about the slower leaching rates. I wan't proof that ultimate recovery rates aren't affected.
Yet another thing that annoys me is the lack of guidance of effects of 50% richer ore found in grade control drilling.
However, judging from financials, costs are under control, and it's easy to believe they can double the production as crusher capacity doubles.
But I would need to know how many tonnes of ore remains at Sinivit (ambiguous 4 years is not enough). What is the grade and recovery rates. What kind of grades are currently under leaching.
When company answer these, I might support the share price. Alternatively they need to demonstrate the mining method and/or depth extensions at Imwauna.