Analyst repot, page-29

Steve,
You continue your bullish views, despite the fact the share price continues to tank, new, daily, weekly, monthly, yearly, and 5 year lows today. So the market does not seem to be buying your bullish ramps.

As this is the only stock you comment on, and have been consistently bullish despite the price falling nearly 44% in the 6 weeks since you started posting, I have to ask the question....

Are you connected to, or do you derive any of your income from any management association or consultancy association with Medusa? Or are you a mug punter like the rest of us, but currently backing a loser? (I have other shares).

The one question I would have for the BOD at the AGM is...Are the safety standards in the Co-O mine the same as those that would apply to an underground mine here in Australia. Yes or No. If no why not? This is an Australian company, if the answer is no they need to change to Yes.

You and Chuk are correct we don't know the circumstances of the deaths this year. Yet if an Australian mine had 3 deaths in 3 separate instances over the year, they would be wearing workcover inspectors like a rash through every aspect of their operations. That I do know for certain!!

How can you say this?
" from next year when production likely will be 100k oz/year plus"

Thereis absolutely no evidence of any kind that would suggest they will go beyond or near 100koz a year?
Just look at the record and the general direction of grade, it is down. Now they have cut 1000 employees involved in development, plus supervisors, so morale must be low. To get one quarter to just over 21000 oz, certainly does not automatically mean production is likely to go near the number you mention. Let's see how they get through the wet season first. Last year they blamed flooding for poor performance, let's see if it happens again!!
There were cutbacks all over the place to get last quarters $2m increase in cash, I don't think that can be repeated for long before they get into trouble with ore delivery to the mill. I'm prepared to wait because I'm out of the stock, and recommended people sell at $1.60+, you've been bulllish while the price collapses.

It is not hard to tell who is biased or not here!!



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