GREY:MLKKF - Post by User
Comment by
jphon Oct 01, 2011 4:35pm
391 Views
Post# 19108016
RE: RE: RE: RE: "miracle" we need
RE: RE: RE: RE: "miracle" we needI am not sure what is making people so cynical these days.
Yes they did overrun the Mineral Park development - but not by very much. They sunk money into the floatation and they had to put Capital into the power generation and had to swallow some cancellation costs on the powerline - however - the power generation should be good for lowering expenses going forward.
The original feasibility had a Cap cost of 227 million and they are likely up around 300 million. But the feasibility was also based on copper at $1.53.
Yes their operating costs have been high - but they now get to divide them by much greater throughput - which will lower them substatially.
ML goes up and down and I have done very well at guessing at the highs and the lows - it is pretty easy if you just look at the chart and DON"T GET GREEDY.
For those that have been complaining - I will provide you with a hint - this is a low point and you should be buying.
Good luck - but if you buy around now - you will not need luck.