Post by drunk@noonon Feb 22, 2025 4:06pm
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Post# 36464521
The good and the bad. I don't like management. They are
The good and the bad. I don't like management. They arenot mining guys. The canadian is an empty blue suit who brings nothing to the table. When I sayw the old Ausy guy interviewed, I though, good a mining guy. i.e someone capable of building/running a mine. Nope, not this guy. Australian mining guys fall out of the trees in Austrailia, they run half the mines in half the companies I own. Not this guy, the only non-mining guy on the continent. The Ceo serves his purpose being a Mongolian and therefore is important to have on board to deal with doing business there. Hopefully he is well contected. They have another dude, says he's a geoligist. At least one in four has some kind of education/training in the field. Not an ops guy though.
The plus is golds at 2900 and that makes the financial metrics great. Another big plus is they've got the financing done for the ATO expansion. Downside is they are paying approx 15% interest on it. Also good is the ATO expansoin is due to be up and running mid next year. Can get things done fast in mongolia. Bad news is 11 months ago was saying in an interview it would be up and running by the end/2025 start of 2026. So has been pushed back 6 months in 11 months. Loses credibilty for time table, but it should be up and running some time in 2026 which puts them at a 150,000 run rate.
Have half a dozen of these microcap projects, the key is to sprinkle the risk around. Just need to look into the tax/royality regime.