RE:Folks: The prospects for TMAC have not diminished one iotaShermandrock1 wrote: Delayed? Yep, they have. In the long run, what difference does a couple of quarters make. Would you rather own a deposit with a dialed in mill extracting 110% of the gold from a 1.2gpt ore body? Not me. For the record, my confidence in these folks has increased that they KNOW what needs to be tweaked, replaced or reformulated and they WILL get the job done. We operate in a theoretical world. In theory, we can design stuff to encourage nature and the environment to EASILY conform to our wishes. In reality, it is not so easy at all. If at first you don't succeed....as they say. Yep, I am dismayed at the price of the stock. I believe that it does not reflect the long-term prospects of the known and the considerable potential of the unknown. Sherm. Just my $0.2.
Although I have "followed" this stock since it became a company, I am "new" to the indepth analysis, looking to buy/not buy as the case may be. I agree that the deposit if very very very good; always has been. I have worked with a couple of the new senior hires and I trust them to be pretty competent people who can get things moving in the right direction production wise. By all accounts from my contacts in the industry/at the mine, this WAS a gong show since they bought it from Newmont. Changing plans on the mill design, transportation logistics issues etc - typical Northern Mine difficulties. Things are reported to be better now at site. My fear is cash flow. I don't think is a foregone conclusion that they miss the bullet payment and the interest payments - but it is a major concern for me. I want to do some detailed cash flow modeling for the next two years to understand how much of a problem/opportunity this will be for shareholders. Although I am a gold bull long term, the price of gold is not moving in the right direction to help us with the cash flow.