GREY:GBRIF - Post by User
Post by
longtoothon Jun 24, 2011 12:55pm
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Post# 18761963
still no news on cost per ounce
still no news on cost per ouncethe last press release finally gives the production grade which seems to average about 9 g/t gold (a big difference from the planned 14 g/t). so it is quite clear that the company is most likely breaking even or losing money for every ounce they mine. the last month produced a bit over 6 g/t which is a sign that the operation could shut down if the problem is not resolved. the company is blaming the mine contractor for diluting the ore but the blame is to be put on the company for alowing it to happen. this managment seems to be expert at placing blame on others for things they should be held accountable for- typical of poorly managed operations.