Post by
production05 on Sep 09, 2013 12:34pm
RE: financials
They are now posted on SEDAR. I only took a 30 second glance within the reports. From my 30 sec. glance, nothing to be excited about, but results pretty much as expected. Impact from low gold price and challenging cash cost per oz. It looks like the cash cost likely included some one time costs. Those should go away in future quarters or at least be reduced. However, they need to find a way to lower the cash cost per ounce, especially given that the gold price has been very slow to recover. The gold price is espected to get back over $1500 at some point this year, and perhaps get back to the $1800 - 2000 range later in the year or early next year. But, there are no guarantees with regards to timing, especially with the gold market being manipulated by forces with heavy influences and deep pockets, in addition to the existence of many global issues. Hence, NWM management will need to find a way to better control the cash cost per oz if the company is to make more successful strides in the future.