Whilst the results aren't good, they are in a transition phase. Importantly transparency has improved significantly and it looks like a real plan is starting to emerge.
Key points for me are:
Second half of CY 2018, they are targeting 70-80K ounces. AISC target $1000-$1100
Commissioning of ball mill is 6 weeks away
They have found gold at Ucumun saddle, this will have a very low strip ratio
MACA debt includes transfer for earth moving equipment and first payment of $3M has been made
Sometime companies need a crisis, lets hope they have capitalised on it.
Ann: June 2018 Quarterly Report, page-7
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