GREY:MLKKF - Post by User
Comment by
jims101on Mar 04, 2009 5:02pm
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Post# 15820973
RE: Site Visit
RE: Site VisitThank you kenb for the rundown at the mining site.
A couple things caught my attention. First that commissioning of phase one has not yet been completed...This is MARCH 2009!!! It sounds to me like production is slower coming together than anticipated it would.
Secondly, I love this line:
Mr. Lee remained confidant that the company would be able to meet the (EBITA) test when the time came. He confirmed also that senior management had this test in the forefront of their concern and were working diligently to resolve the potential negative implications of this test. No details. Stay tuned.
"in the forefront on their conern" In the forefront of their concern about nine months ago should have been the price of copper. Six months ago it was selling for twice what it is today. Hedging would have saved much grief and shareholder value.
Sorry, this company disappointed me too much, as I think it has many of the holders of its shares who used to post here in full confidence of a bright future for the company..It's a whole new ballgame now....a thirty cent stock that might go to a buck and that's pretty speculative, rather than a $10 stock that the management was saying less than a year ago they wouldn't support a buy out for less than $20.
Few things turn out as one expects them too...and almost never like the loudest and most certain proclaim....