Ann: Corporate update , page-16

Hi Timbin and happy new year to CCU thread followers.

Yep, still on the sidelines.

Bit concerned that CCU has not released full December production figures as it has a consistent record of reporting good production early and poor production late. But leaving this aside, I'm doing my numbers on nameplate capacity (ie 600koz / qtr).

At this production rate, and assuming CCU can deliver on its $19/oz full-production rate forecast, the company would be close to covering interest and administration costs - ie, be close to cashflow neutral. This still leaves outstanding debt repayments to be funded.

I think the CBA has agreed to the one-month extension on the basis that CCU conducts a capital raising this month (there's no other way CCU can pay back $1.9m at the end of the month). So I suspect an announcement soon. With the recent SP strength, CCU may be able to get the capital raise away at 9c ..... a level at which I would feel more comfortable about re-entering.

Of course, I've been wrong about this stock on many previous occasions ....

GLTA.