The problem is AISC true? I am not talking about milestones here M7, thats out the window.. im talking about the company surviving.
1. We had dilution in the wet season. (None going forward, look at weather forecasts).
2. We had sh*t ore grades, only 1.4% ( which is below the average of 2.45%, and almost 3 times less than the 4.39% in first quarter last year) - With mining recommencing our grades should increase significantly.
3. They have identified a number of operating issues which they have addressed and made modifications to in this quarter, however there is still a lot of work that needs to be done going forward to bring the plant to full capacity.
4. A hydraulic reclamation contractor is mobilising to the Kipoi site and is scheduled to complete commissioning of their equipment in Q3 2017. The hydraulic reclamation equipment being mobilised to site has been specified to deliver a feed rate exceeding the 50 tonnes per hour design throughput for the tank leach circuit.
Do you think the lenders would approve such a move if the company was expected to default?
Dont get me wrong, i think we are in a massive sh*t storm right now, however i dont think you guys are giving Brad that much credit, his way ahead in addressing the issue than our last CEO.
TGS Price at posting:
4.9¢ Sentiment: Hold Disclosure: Held
