SELL
by
Room101
on
30 Sep 2013 16:04
Price at rating: 19.51, now:
How are all the sitting ducks doing here? Looking forward to the week ahead, hoping for the RNS to mention the other 5 mil needed to be raised for this inept company, another dilution to the shareholders! I see the CRND site has pretty pictures of the vast scale of works regarding the sludge treatment plant, remember this work is for the S.A.G to stop AMD reaching the water table of Johannesburg, not for the benefit of CRND. If CRND wish to capitalise on this set up, then they have to pay for the running of the whole complex and labour 24/7, How do they do this????r 7 months to wait before the pumping of AMD is to start, that is if there is no delays of course.r The gold costs CRND $2000 an oz to retrieve and they sell it at market for roughly $1325.00 so more money going every month, unsustainable.r Crushers still to be installed and fully commissioned when?? Circuit to be up and running early part of 2014 as per the RNS, so many months of mining at a big loss.r Aug 2nd RNS, Ore problems, nothing to do with plant above ground.r Unable to use mechanical means of getting ore, has to use the stoop method, labour intensive and slow. Working in mines that have been mined for over 100 years, it has to be getting scarce and dangerous to work down there.r So what do you do? Stay and pay to be diluted, watch the share price fall as gold produced will always be higher than it's selling price here, wait for over a year for the AMD to be lower which will reveal AMD slurry, of course this all has to be removed before any mining commences, health & safety as the slurry is very harmful.r Oh it's just a total disaster here, I can see the ducks now in the hunters sight's, do they stay and hope or do they fly to live another day?r Time will tell of course, GLr
Score: 100.00