It was never production that was aimed for in December - commissioning was the goal - people might say I'm splitting hairs but commissioning is bringing the plant up to production, making adjustments and settings/bedding the equipment in, to optimise production when things come on full stream.
The problem has been approval of the MMP - they were expecting to start pre-strip and pit development this month which hasn't happened because the MMP isn't approved and in place.
Because of the regulatory requirements mining projects rarely get up on time. I have been familiar (invested and/or following) with CCU for going on 2 years and this is the first real setback they have come up against. So, a three month delay? Not an issue.
The funding issues are a disappointment, but the fact that the team were able to get something else in place so quickly shows they able to be flexible and probably proactive abut the funding - I'm guessing the investor contacts and interest would have been noted and registered back at Diggers and Dealers - sophs that didn't get enough or missed out on the last placement are getting an oppportunity.
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