Ann: Corporate and Operations Update - Record Quarter Production, page-4

No good sorry, catch-up processing of con is a red herring... Abra can only produce and sell con proportional to what they can mine and deliver to the mill. June Qtr is almost a carbo copy of the Dec Qtr with ~280kt @ 5.65% for both. Abra is constrained by lower grades and more complex geology than originally thought, translating into lower production of lower grades, which looks marginally positive or negative cashflow, which in turn means debt needs to be written off for any chance the mine can become solvent under new owners.
Based on previous Qtrly cashflows and annual weather events, plant breakdowns and other risks in underground mining, I'm not sure anyone but Toho would risk running it even with debt written off (on account Toho make money on the lead con processing/sales)? Trouble is C&M isn;t cheap either... so burn through the orebody marking time waiting for a jump in lead price, or C&M for better prices and slowly bleed out, or sell the plant to another base metal developer?




Mar Qtr Abra Mine cash only went up slightly because of big drop in working capital expenses (shrinking inventories as everyone tightened their belts), and was falling again went Administrators came in. Including non-operational corporate G1A costs cash went backwards $2m in the Mar Qtr. It's a profitless mine unless the Pb price jumps or AUD falls... and vica verca.