michelmore still persisting with century, page-40

"I have resigned myself to unsecured creditors getting nothing from the corpse of OXR."

if you look at the balance sheet that just doesn't make sense

the assets are on the books for between $6-7bn ie they have put that much into developing the mines and they have $1bn in debts.

at least four or five of the mines are cashflow positive (if you include credits)

eg
gg
sepon copper
rosebury
and probably

Prom Hill

Martabe is a gold play and worth something

here is what one analyst thinks it is worth

Operations $ c/share

Sepon Gold 21 1
Sepon Copper 1323 42
PH 1566 50
Golden Grove 224 7
Martabe 231 7
Century 1840 59
Rosebury 221 7
Dugald River 157 5
Avebury 200 6
Apex Minerals 3 0
Minotaur Exploration 1 0
Royalco 2 0
Toro 25 1
Nyrstar Holdings 32 1

Total operations 5848 191

Cash 405 13
Debt (1128) (36)
Corporate & 'other (248) (8)

Net Total 4877 160

Even if you were to discount all the assets by 50% shareholders would get at least between 50 -80 cents

also why haven't you mentioned a capital raising?

the company says they are looking into one

perhaps replacing debt with equity will secure this refinancing deal albeit a smaller amount

say $500m

Bit to early to be giving up the ghost on this one completely I reckon