Karara isn't near CITICs. However the final CAPEX will be well over 100 percent. Including the extra working capital it may reach 3 times initial budget.
It's delay after delay.. CITIC is also having troubles reaching nameplate grade, albeit much more serious lol. This might not even be cash flow positive until next year.
Basically magnetite in Australia has been nothing short of a disaster at present. Karara isn't profitable yet and continues having delays.
Enough from me. I'll leave the forum to the '$1 by Xmas crew' with there wonderful analysis and factual posts.
ann out!, page-34
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