I was speaking to Trevor shard from ccu about a month ago and said that they are likely going to fund the ball mill expansion with cash flow. Hence I am very disappointed about this announcement, but I did sort of work out before looking at the quarterly cash burn rate that a cr will be hard to avoid.
Going forward regardless of the details of the cr it will be hard to build trust with investors. That is the big problem they have got. Once faith is lost it is hard to rebuild.
I am hoping as I am still heavily invested in the company that the ball mill will be a make not break, but we will see.
CCU Price at posting:
18.9¢ Sentiment: Hold Disclosure: Held