."On February 9, 2011, the mill facility experienced a failure of its cone crusher that placed the total crusher circuit inoperable until February 17,"
8 days of down time
"Mining operations continued during the period in which the crusher circuit was inoperable."
So the ore was stock piled and could be put through the crusher when it was fixed which really means that there was no lost ore production.
"The losses in mill throughput resulting from the crusher failure has had an adverse impact upon the Company's cash flow and its available funds."
Total BS (JMO)
" The operating team is now completing a full review of potential operational impacts based on the recent cone crusher failure and the subsequent development and production delays resulting from the financial impact of the downtime. "
The NR reeked of doom & gloom (which I believe was intended) and IMO was a gross missrepresentation of the net effect of the crusher break down with the sole purpose of tanking the SP and making cheap stock available, this NR was released right at the PDAC convention for added punch (i'snt this where company's are supposed to promote themselves?), this crusher failure could have and should have been announced in February not at PDAC.
I was fortunate to bail in the .70's and have been waiting to take a position again, but will wait to see what this special meeting has to offer, I don't want to own any over priced WTG.
The Cold War Isn't over.
