value, page-20

without wanting to steal Onthelookout's thunder it's pretty simple:

costs (fixed mainly)
rate of capital development (can't access enough ore quickly enough)
mill throughput (see costs)
ounces per vertical metre (some orebodies should just stay in the ground)

In a nutshell Apex needs another cash injection to stay afloat. They have 2 choices: 1) raise more money through the market or 2) sell an asset.

My feeling is if they don't sell Youanmi soon it's all over - but they will MA has a habit of pulling things from places where the sun don't shine