Hi there, I was just looking back over the latest presentations and note that the De Grussa U/G has 7.9Mt in Reserve which equates to 5.3 years mine life at design capacity. I note that this figure is quoted as at March 2013, ie. a year ago and counting. So therefore does this mean it will be lights out in 4 years?
I see SFR will have paid it's debt down to $190M a couple of weeks ago and will repay another $30M this quarter taking it down to $160M, a great effort no doubt.
The question is therefore will the debt be paid out over the next year, thus reducing the "profitable" operating life of this mine to around 3 years? All seems like a bit of a waste of time doesn't it?
Tubber
SFR Price at posting:
$5.90 Sentiment: None Disclosure: Not Held
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