Thanks Davisite
So the administrators plan to salvage something from the wreck in the long term. Too bad shareholders won't be part of this. There will be winners to come out of this, unfortunately the shareholders will be left behnd after all the years of support.
“The new model ... defines a higher-tonnage, lower-grade deposit than previous resource models,” it said.However, the plan would have resulted in “a material cashflow shortage in the short term” because of the lower predicted grades.FTI said Dalgaranga would remain in operation while it explores a recapitalisation"
Ann: Appointment of Voluntary Administrators, page-29
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