From my rough calcs,CCU needs 720k ounces of silver per year for...

From my rough calcs,

CCU needs 720k ounces of silver per year for the next 2 years, then another 360k for the final 6 months to meet the hedging requirements. That is attainable even at %50 grade...

Without doubt until more clarification from the company is provided, CCU just ratcheted up the Risk scale.

The Silver is there, the companies ability to get at what thought was the average grade is now in question (at least going by the JORC statement the silver is there).

Tough day without doubt for those that have participated in the last few capital raisings and LT holders.

Lucky/prudent management collected extra funding in the recent raising.

(I realise there is a lot of anger at management right now, but from posts over the last 12 months, they seem a fairly decent group....) I would say I have lost %10-15 of my net worth over the last 4 months due to all the precious metal stocks I own facing ramp up issues etc. O U C H.