Corica is the mining contractor at Kouroussa and it works with many of the large gold producers in Africa. Betts said yesterday that mining volumes have now reached full contracted rates on a daily basis and the plant is running at nameplate capacity. I'm looking forward to when they start mining the high grade zones like 20.75m at 91.98 g/t
I think the directors should make an alternative proposition otherwise shareholders should vote in favour.
Needs to be salary cuts with bonuses if milestones are met. Williams should go and Oza should step down as CEO as suggested in the requisition and be replaced with someone who has more experience and a good track record
Indeed HarChris, the timing of the export restriction announcement couldn't have come at a better time for TGR and should be a game changer. I think it will lead to institutions throwing money at the company to help them fast track increases in production.
I don't think people fully appreciate the implications of the China export restrictions and how much if an impact it will have on TGR. There will be very strong demand for the shares as one of only two listed graphite companies that are actually in production. It won't be easy (or cheap) to take a big position - it will be like when BAT was selling but in the opposite direction!
How did you calculate the cost overrun as the company are still saying Kouroussa was built on budget?
When looking at the figures you have to take into account the company is also developing an underground mine at Yanfolila. I'm not sure of the overall cost but I assume around $20 to $25million which may account for your cost overrun. I think the company said in an RNS earlier this year that it had ordered equipment/machinery for the underground mine for around 11million Euros plus there is a lot of digging and concrete involved in the development of an underground mine