A solid quarter, however I am sure some are puzzled at the cash...

A solid quarter, however I am sure some are puzzled at the cash position.

It would seem the company paid for quite a bit of the capex for the plant upgrade near the end of the quarter, cause their overall liquidity position to fall from $25.3m down to $18.2m. Also, while they produced 24.5k ounces, they only sold 22.7k. So I am going to assume the March quarter AISC will benefit from that.

Although I would have liked a similar breakdown of the capital allocations like in the Sept Q. Just so I can be clear on what is going where.

I am guessing that the March quarter is going to be very similar to the Dec quarter production wise, although I would have thought a bit lower spend on U/G dev, as they are basically up to able to just process what they dig at Bartons.

Lots of exploration results to come in the next 2 weeks, plus of course the resource/reserve update in Mid Feb. Also looking to see if they really can increase the sulfide recovery rates. This is very important, as it will hopefully enable the company to basically open up their entire sulfide resource (not booked yet, but has been in the past).  

Very interesting to note that MOY even patented some of the processes being used with the sulfides. A nice possible revenue stream.

As for Barton, good to see that the body continues and that reserves will increase as they hoped. 

Still waiting on a decision regarding Golden gate U/G? Perhaps they want to complete the reserves/resource update before deciding..?