A lot of talk and worry about production levels here as a concern. Not sure what peoples worries are about but I can assure people that I have attended the AGM in November and any of my concerns were put to rest. Marwood was very good and gave plenty of his time to explain the position of the company. The incline bypass was totally necessary to focus on instead of hauling ore as the incline was 22 degrees and the machinery hauling could only cope with 15 degree incline. Every load to surface took hours. The development of a vertical incline will reduce costs of hauling ore to one third of the current haulage cost so this will be massive. The 39% acquisition is more or less a done deal and fully funded. Both Copulos and Richards have both tipped in over 100K @ 2.4 cents in the most recent SPP and their most recent on market purchases have been at 2.2 cents. Decembers production is expected to be 3000 tonnes mined and if it is I don't think you'll buy shares at 2 cents so it is a risk v reward decision to buy in now. These shares have traded above this level back in early 2017 before Marwoods appointment (tick) and before the decision to mine (tick) and before the extra 39% acquisition (tick) so they are bargain basement levels IMO at the moment.
GLTAH
Cheers Rb
