There has been a reduction of capital to attempt to align the cost per ounce.
I am not sure how they will keep the 205,000-220,000oz guidance range - I don't think that it will be possible without another capital raising - that's on top of this one.
If you look at the photos of the Maxwell Open pit in the presentation material it doesn't have much life left unless you do a huge cut back or go underground - both options will need further capital. There have been a bit of tightening on capital and although short term you can get away with it to reduce costs it may come back to haunt them.
I suggest that you will see another capital raising within the next 12 months?
SLR Price at posting:
68.0¢ Sentiment: None Disclosure: Not Held
