Positive outlook from CC I would have to say that although the last few days of trading and specualtion associated have had myself shaking and scratching my head, todays CC re-affirmed my original belief in the company as an excellent invesment.
Key points that I took away from the call;
- 2 out of the 3 start-up issues restricting production have been solved, the last (the pump) is either going to have a work-around installed or replaced with one that will produce at intended capacity. The solution on the pump was said to rectified very soon.
- Re-affirmed after start-up production hiccups that original gold expectations/OZ recoverd will be at intended rates of aproximately 3500 OZ/mo (43,000 /year)
- As staed in today's NR, management needs 1000 OZ/mo at sale of $1500 AU (todays close was 1720+) to float expendatures leaving aproximately (at full production) 2700 OZ for cash positive and future endevours, (***future outlook**)
- Yes, 250K in the bank does seem a little light to float operations but managment says cash coming in from previoos loaded carbon stockpiled would be able to float themsleves while we wait for full production.
- ADR plant is all systems go with intended completion end of March
All in all it was a good call worth listining to making this investor happy with his purchase and looking forward to the future
We have to remember that ALL companies go through start-up issues and hiccups, the original plan and expectations are still there with renewed focus and determination
LTIO540J