washing for stops, page-2

I don't see a 40% drop in this announcement.
I don't believe the Company did either, but time will tell.
It was probably foolish for this news to come out unaccompanied by new grades, resolutions etc. Just maybe the company is by the book. Down the line as they say. Who is willing to buy at these prices without any further news? It's a gamble isn't it? Here is the ann..

"Cobar Consolidated Resources Limited (ASX:CCU) announced today that lower grade ore was
impacting silver production during its commissioning and transition phase.
  
The lower grade ore is arising from two sources; Medium grade ROM stockpiles where the
grade in the stockpile has been overestimated, and lower than expected grade ore from the
Boundary pit.
  
While the reasons for initial grade estimation errors at Boundary Pit are currently being
investigated, recent infill and grade control drilling has highlighted greater grade variability
than expected. A new optimised pit design is being developed and will be implemented by
end January 2013.
In the short term, the Company will not meet its target production rate of 2.5Moz per
annum by December 2012. A revised short term production schedule is being prepared and
the impact of it on the production target will be understood once the schedule is complete.  
Work continues on the implementation of the improvement and debottlenecking projects
for the processing plant. The installation of the mill and other debottlenecking activities will
eliminate processing inefficiency and reduce the amount of screen oversize material
currently being generated and stockpiled for later processing. The completion of all of the
projects will result in a net increase in the ore being presented to the leach circuit of around
20%. The projects will be progressively implemented from December with the mill
installation expected to be completed by mid 2013.
The Company has appointed former WMC senior executive Ken Tranter to project manage
implementation of the mill installation, the improvement projects and the expansion study.
The Company has adequate cash to meet all its funding needs including the debt
repayments to CBA which commence in December 2012.   "