CCU 0.00% 5.8¢ cobar consolidated resources limited

Ann: Operations and Corporate Update , page-6

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  1. 435 Posts.
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    Whilst this was a reasonably positive outcome , as a share holder I still want to see more .

    The more being : a good outcome with the CBA negotiations , production levels achieving name plate if not a little more .Revised operating costs showing that the company been more efficient then there last estimates. How will the company be cash flow positive in I am assuming early 2014 . What is happening to the lead production which is additional cash that the company could use. Do they truly have the right people running the show from the CEO, the board and the on sight managers, as there seems to still be production problems.

    For example at the AGM , the CEO reported that whilst the first 2 weeks of production in October where down,( only 40,000 oz s were produced ) the last 2 weeks they produced 50k oz s each week . Now in November they produced 167k oz s of which 50k was produced in the last week of the month. Therefore in the first 3 weeks they only produced 117k oz s , plus they changed pits . BIG QUESTION WHY? Shouldn't the CEO and the on sight managers have known better , WHAT ARE THEY DOING .?

    How often does the CEO go in sight ?

    Why hasn't the CEO , and certain board members still have no shares (CEO ) and very little ( chairman and one board member ) . They are still not displaying any confidence in there actions .

    In relation to the lead production are there any mining engineers out there that can explain to me why this company has not started to also produce lead. This product is never mentioned any more . The only time I have seen it was in earlier reports that their was a reserve of I think 109,000 tons that would be mined with the 25m ozs

    And of course the great unknown is the silver price which seems will be more important as the months roll on .

    I also hope that they will be more proactive and continue to inform the market more regularly than what they were doing in the past.
 
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