Record Q4 results to be announced next week? 100k oz for the...

Record Q4 results to be announced next week?
100k oz for the year?
P/E ratio of 2.1 as calculated by CPDLC, the lowest of 73 gold/silver producers he follows.
Share price to multi bag when the gold price stabilizes and reverses.

PM's and the miners have been under the cosh for about 4 years now with the gold price currently bearing no resemblance to the cost and difficulty of finding, funding, developing a gold mine and ongoing costs of production for usually 10 years or more of a mine's life.

The genius's on Wall St, the Federal Reserve, BIS, Comex, etc who conspire to dump billions of dollars of paper gold in seconds to produce the waterfall drops in the paper price that we see with regular occurances care not about the business of producing physical gold only about protecting the $US and making gold look bad in comparison.

When this criminal fraud and manipulation will end no one knows but Medusa is better placed to ride out these times than most producers as it has completed expenditure on a brand new mill, has been cash flow positive for the past 3 quarters with a positive inflow of another $5 million likely for Q4 taking cash to around $20 million and insignificant debt, reducing to likely $5 million or so.

Productivity improvements are ongoing with the new mill now running at just about an optimal level and the mine which has some way to go but issues are being addressed progressively. In particular,

the de-bottlenecking at the base of L8 shaft is in progress

along with the progressive implementation of the new payment system for stope miners who are being paid for volume blasted rather than volume of ore removed from stopes which has led to over draw and dilution of head grade. This is about half way completed now as it has applied to all new stopes as they have been started since about April. With about 100 stopes in operation at all times, all remaining new stopes will go onto the new system before the end of the year.

The building of the new services shaft is making good progress and will lead to a major increase in lifting capacity to increase throughput and reduce cost per oz as running costs and overheads will be divided by c.130,000 oz next year cf 100k oz this year. Completion approx April 06.

Buffett:
"Be fearful when others are greedy. Be greedy when others are fearful."
"Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can’t buy what is popular and do well."