They might get funding in 3-6 months if administrators are still amenable which is only way everyone will get back what they are owed so might be okay I don't think they get the last exploration rebate until mid year anyway.
There's no way this $10/t over night surge would be enough to convince anyone of the long term fundamentals
Without further research.
One thing I will say all the other juniors will still be out of contention.
FAS was saying $59/t in 2010 on a $200m capex the currency exchange rate is probably good for a 15% saving since the. given also wages are falling in mining although looks like aud will surge back towards 80 cents. Transportation costs for rail and shipping have halved since then so all up maybe high $30's low 40's for break even
Even the mining costs will fall as energy is a large expense maybe 20-30% of opex costs to run mine i.e diesel for cars, trucks etc, Gas for infrastructure and fixed plant
So I'd say definately in high $30's for breakeven atm however if oil comes back that has a massive impact.
In the media Rio's cutting 700 staff
From iron ore so they think it's going lower although I've heard it could be a lot higher than that figure.
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