Talang Santo has not been a success since the fatality 4 years ago.
Krm's problem is that it seems to have set overheads (a native village to maintain) and
sub par gold production due to water in the mine. Add to this the cost of pumps, electrical
infrastructure and pump energy costs and you have an AISC higher than the POG
(negative cashflow).
Water at higher levels is unlikely to disappear further down and, IMO, KRM should be
opening another (dry) mine as insurance; otherwise it could be a slow and agonising
cash burn.
Ann: Kingsrose Expands Share Placement-KRM.AX, page-12
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