It was made clear in todays announcement that they have enough cash IMO $15.7m, also another shipment soon unless this date has changed (maybe someone here can clarify?)
"Q11. What are the overall commercial implications to CCR and cashflow of this series of setbacks? (oversize material, Log Washer issues etc) A11. During the commissioning and transition phase of a new mining operation, a range of issues arise. These have been or are being dealt with. For instance, the log washer operated last week for 5 consecutive days without downtime. As previously announced, we will be installing a ball mill to reduce the amount of screen oversize material currently being generated and stockpiled for later processing. Our strategy is to mine the ore body and feed the higher grade material to the processing plant. The lower grade material will be stockpiled for later or opportunistic processing. We are still following that strategy. Whilst production for the December quarter will be less than planned, there is no reason to doubt the ongoing long term commercial viability of Wonawinta. The cash balance at the end of October was $15.7m."
CCU Price at posting:
34.9¢ Sentiment: Buy Disclosure: Held
