Ann: Market Update - Engenho Gold Mine Brazil , page-10

beut

I would be happy with 12,000 ounces pa or whatever production level so long as it keeps them alive.

I did some simple number crunching in relation to the Peru operation and felt a little better. I was hoping that MUN's loans were secured against their Brazillian mining operations. I then had a short chat with MUN and this tends to confirm there is still hope.

My post was intended to get people thinking more clearly about MUN's position. It is going to be a long road to dig themselves out of this mess, but it is not impossible so long as there is enough cashflow coming from Peru.

The other big concern I have is GFC2 and what it might do to the POG, and hence the cashflow from the Peru operation.

loki (RIP MUN? Perhaps later, but not just yet.)