A lot of drilling is planned for the period from Oct16 to Jun17 so the reserves might have a chance of doubling - for the record they had reserves at the Co-O mine of 376,000 ozs in the Probable category and nil in the Measured category. But yes 500k this year would be very acceptable.
I can see a AISC of less than US$850 from when the E15 Service shaft is commissioned given the expected jump in production and the fact we have written-off another $US50mil in plant and development costs(US$5mil was written off inventory/consumables) in the half yearly accounts.
Can't see them being in an index again ever. That is too much of a stretch.
George you would have to have very deep pockets in claiming you have put a floor under this stock during the last three days - that's a lot of shares to soak up and what a gamble given Management are so quiet about current production and a schedule for completion of the E15 Service shaft. Good luck.
MML Price at posting:
33.5¢ Sentiment: None Disclosure: Held