If you want proven top tier mgmt and great low mining cost ore + huge proven plant ..then yes MKO isn't going be it ...go start looking 500mill+ club mate ....your in the wrong part of town !!! MKO is valued sub 30mill completely different kettle of fish ..
As you held VRE and NAV then I'm sure you understand it wasn't so much the plant issue but the deeper ore at Mt McClure mine that from memory was much harder and lower grade than expected as to why NAV spent big on the plant to handle it ..then during that mining boom years the higher fuel and labour costs and NAV mgmt stupidly high admin + major pitwall collapse all added up to put NAV in admin.>>
the BZW plant has produced some 3 Moz of Gold at mostly low cost ..Basic Gold mining fact """it's all about the ore your feeding it"""
the MKO 2.3mtpa CIL plant & camp you call a modest operation (only 90-100mill replacement cost)........... LOL----the likes of RMS Mktcap 250mill only runs a 1.7mtpa plant ... many well known ASX PM producers run much smaller plants CCU was only like 800ktpa (that was a silver mining that really needed a much bigger plant cap) yeah there's bigger plants NGF 3mtpa ....Goldfields 4mtpa etc etc
Now onto Mick.R ...yes I can't say I ever held RWD so can't comment on that ...but IRC which is now being run by "jon price" I do know from PXG days where he turned a "modest" resource into a 4moz deposit sold to EVN.asx ,,, so have great confidence he will do a great job during this Gold Bull market...
So basically you don't think MR is doing a good job ,,,,,
-getting BZW for a song
-Is the biggest Shareholder
-runs low admin costs unlike many in the sector
-has got many larger holders on board aka 90% of the shares are held by only top32
-If all goes to plan (looking good at this stage) he will also be control EAR (which has a very nice project near to BZW)and is current
driving the biggest exploration in years and finding great near surface soft ore to feed BZW
-Is about to sign up a lease deal than will bring millions into MKO coffers
-the same party looking to lease will also spend millions on refurbishing the plant saving MKO millions
-well known because of MR ..EAR will also be looking to feed BZW plant 2nd Qtr 2017 ...adding millions more to MKO coffers
-and still BZW will have 700ktpa free capacity for another party or MKO to feed own ore
Now going off recent peer lease per ton deals in the W.A goldfields ...KDR did one with RMS for $6 per ton .... and that was at a much lower AUD gold price ....but say MKO get that for the two upcoming lease deals MKO will see next to nil cost income of just under 10mill
we see full capacity payout 13.8mill >>>
IMHO with 10yrs investing the micro cap ASX resources sector this is smart plan ....yes not a mid-cap in the making... but even 15 bags later this will still be a long way from mid-cap territory (500m-1billion)
..but it has major potential to be a great Jnr cap Gold producer through J/V lease deals
My target 20-25c next 6-8months 88mill-110mill Mktcap