HI Foyt,Sorry I keep mentioning the wrong year, maybe just hoping for a miracle.
I know they have redirected the plant but can't understand why they wouldn't just stand the second machine down and conserve cash.
It seems they told the valuer that mining would be finished in third quarter 18 and rehab would be done in 2020.
Duckie, They have for some time been flagging a franked dividend for the 2018 year so given the valuer has the Cap EX for rehab in 2020 I don't think there can be, a no dividends covenant, on the SA Governments mortgage. Governments aren't very sophisticated at protecting taxpayers money.
There has been no suggestion that shareholders would be given a drink before the direct debt was repayed and creditors and employees were on normal terms.
I'm waiting with baited breath for the upcoming announcements and hoping for an uptick in the copper price before the hedging runs out.
KCCCC, page-35
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