If you look at the May 15 presentation , the Forecast goes through to Sept 17 and at this time all ore reserves are mined.
They have further resources, but its all a maybe unless they can be turned into reserves
i have been following this company since day 1 and 2017 was always the end date, unless they converted resources to reserves. the problem is that they have no money to do this.
i guess they planned to use surplus cash to grow reserves, but this did not happen
current manager is doing a great job on costs, such a pity he was not in the job a few years ago
my thinking is that in 2017 they may have paid off all debt and will have a plant but nothing to put in it
MOY Price at posting:
7.0¢ Sentiment: None Disclosure: Held