Banter and general comments, page-38702

It’s easy to kick a company when it’s down. Those who suggest Core will go into administration are quite irresponsible.
A company appoints a voluntary administrator after they determine the company is insolvent.
A company is insolvent if it is unable to pay its debts when they fall due.
As at March, Core had $80m cash and no debt.
With no mining cost, and depending on how many shipments they sell this quarter, their cash level may get up to $100m by the end of this quarter or July (with no debt).
Even if they don’t restart until next year, I think they will survive.
When Core restarts, I think the market will be surprised by their new low operating costs because:
- of the big write-downs this financial year
- the cost to mine out the remaining of Grants will be significantly less than before (lower strip ratio)
- new cost structure with better mining contracts
The new ceo seems to have hit the ground running, visiting China and site in his first week. Let’s see what his plans are.