re: Ann: Siana mine site - new production for... As I see it, this report has been produced to secure debt funding. It probably takes the most conservative approach possible and only up to the time when the proposed debt is repaid. The problem is, it assumes all problems are fixed by the end of January.
I think it is dangerous for RED to take on debt (or a "prepaid gold forward transaction?") at this point. So far they have only succeeded in producing at around 20% of the proposed quarterly production.
They should try for equity (via a discounted renouncable rights issue to existing shareholders) and get the pit/power/plant problems sorted before they mortgage the lot.
Ann: Siana mine site - new production forecast , page-14
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