Ann: Operations and Corporate Update, page-18

Ok, so you've been away.
Well here's an update,
They have blown about 90 million by using creditors as a bank, not paying anyone till they sue or demand. Now they've shut down operations for up to 100 days plus because they have no fuel, and sucking up any income that comes in and now they are wheeling out a deal to JV with everyone, mining again, cobalt super deal and pay out the bills. Staff leaving left, right, left again and centre.
And don't forget the houses, land and camp are in hock, with what seems an unreedemable position..... tents anyone


So let's do the maths, 90 million debt
Divide that by, say $1000 npat profit per tonne of lme copper to pay debt as their costs are way up there.
That equals ........ 90000 tonnes of metal
So they roughly put out 1500 t copper metal per month so that means??????

For roughly the next 5 years, there's no profit and the plant will be well and truly ........plucked.
Who in their right mind would tip money into that hole...........honestly.
It shouldn't go for 5 minutes, let alone 5 weeks.
About time someone burst the b/s bubble, wipe it up and turn the lights out on the way out.
Just my rambling and my honest opinion, so DYOR