"was operating at low profitability (no audited accounts for the...

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21/05/15

13:33

Post #: 15324135
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Originally posted by alpaka ↑

Agree nasa with your thoughts regarding re-opening of mines to get quickly to production, rather than spending time and money on aggressive exploration. The locals have been mining graphite here for the last 200 years. There are lots of mines that have been started and then come to grief when flooded with water or had inefficient entry and/or ability to haul the good stuff out.

Modern pumping and ventilation systems, with improved modest cost egress systems will make possible the re-opening of most of these mines, and supply safe and well-paid employment for lots of the locals.

Interesting to note that in one of Jade's posts yesterday reference to a recent account of a Sri Lankan parliamentry committee hearing where concern was expressed that the state-owned Kahatagaha mine was operating at low profitability (no audited accounts for the last 18 years), and the recommendation was for the mine to form a JV with a foreign entrepreneur. This mine is very close to MRF ground.

Hopefully news on further developments towards production soon.

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"was operating at low profitability (no audited accounts for the last 18 years)"

Hmmmmmmm! IMO probably extremely profitable but under-declared income or "overly zealous" expenses! Possibly both?? Good luck to them!

MRF Price at posting: 6.0¢ Sentiment: Hold Disclosure: Not Held
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"was operating at low profitability (no audited accounts for the...

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