CMCL Basics20 May 2009 17:47
CMCL just restarted mining and and last month's extraction of 766oz of fine gold (current SP $900 per oz = $698k I make it was valued at about £700k whereas last year they made $800k loss so they've covered that already!
They are looking at seriously ramping upto 22,000 oz of gold annually.
If you up the gold SP as follows:
$900 = 19.8M revenue
$950 = 20.9M revenue
They are further exploring a number 4 shaft which will increase capacity to 40k oz of gold.
Therefore at $900 per oz this means £36M revenue.
If extraction goes to plan I hit a number of about £22m (excluding costs) but it's in zimbabwe and they are sending to refining in South Africa which has been hit with power cuts (although seems better now) might be worth a punt as if they can prove month-upon-month extraction then these should fly.
I'm not in there yet just keeping an eye out at the moment and researching a bit more but be interested to know where the MM's are sat!