Ann: Southern Cooper Basin Operations Update, page-93

It is "struggling" in the face of a plummeting oil revenue (courtesy of oil price movement) while under the load of its high fixed capex and operating cost. They have come clean today and flagged that they are reviewing possible impairment charges - didn't say how much though, which is just rubbish for a company of its size. They are simply trying to buy time while waiting for the oil market to recover somewhat. Rating agencies are on the verge of issuing a raft of downgrades as they lower their internal oil price assumptions. With their share price already down some 50% and a weakening balance sheet, they can't raise capital without serious dilution, and they have had problems issuing hybrid notes at an acceptable rate.

They mightn't be struggling in terms of staying as an ongoing concern, but they do their their share of struggles.

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