They seem to be finding more gold, which to me indicates there is some life to their Brazilian mining operation. The grades in Peru look good.
The problem is that cost per ounce will continue to be too high until Crista comes into production. This two month production delay is very poor timing.
They could borrow some more to make up the cash shortfall until Crista comes on line, or raise some funds by a placement. I wonder if there are still any friends of MUN's management who would be willing to take a punt on MUN?
I have no objection to a $5m capital raising at 10 cents, given what has happened to date, but I suppose others would object to this.
loki
MUN Price at posting:
9.1¢ Sentiment: Hold Disclosure: Held
