Why do you say there was a cost blow out for Wiltails? The schedule took a long time yeah, they only just finished it because the administrators put it on ice. I think the dumpleach and wiltails are making money, enough to keep the lights on, staff employed, underground mine in good shape and nice fat checks rolling in for FTI. No wonder they're now saying end '24 before the company is recapitalised and relisted, FTI are absolutely creaming it.
It's interesting their updated resource numbers are very similar to WMC's resource, the problem was never with the geology or estimates, or with the strategy of producing concentrate and reprocessing tailings, the difficulty was getting a mine plan to consistently produce sufficient grade and tonnes out of that vast resource. Now, under new management or with new owners and with some decent mining engineers, they could sort out the UG mine plan or maybe it'll be a big open pit which they can mine at a much ower cut off grade.
the vast resource is still there in the round, and we shareholders still own it. wiltails is a small step to profitability, hopefully with some more baby steps we'll eventually rise from the ashes.
