GREY:MLGAF - Post by User
Comment by
StockExpertProon Oct 24, 2012 1:40pm
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Post# 20519056
RE: New to MLG/sp over-reaction to news
RE: New to MLG/sp over-reaction to news How is this an over reaction to the news if this knocks them out of production? If they don't receive the necessary financing in the near future to make these expensive repairs they will have no other choice but to resort to massive dilution at a low price per share on MLG stock. This recent press release on MLG concerns me especially the part about them finding lower grades. At this point they must be asking themselves if it is even worth making the repairs to mine low grade material from the mine. This is devastating news for Malaga Inc. and the shareholders in my opinion.
https://www.reuters.com/article/2012/10/22/malaga-production-idUSL3E8LM6IZ20121022
Oct 22 (Reuters) - Canadian miner Malaga Inc suspended production at its tungsten plant in Peru as power supply to its only producing mine was disrupted.
The company, which has been struggling with lower ore grade and selling prices, said there was a power outage at the Pasto Bueno mine after a hydro-electric transmission line was accidentally cut.