I’ll answer this as best I can. I just woke up and I’m on holidays.
Elmore mines recently tried to raise $5M. I believe they failed hence the administrators.
In the past months the area and site has been flooded. They had to cease operations.
The rail has been damaged leading them to cancel a shipment that was expected to leave port yesterday.
They were producing under 65% grade with an high level of impurities (this is key) and recently had to purchase a floatation plant from China, which was only being built.
MGT $ 1.00 TARGET PRICE 2024, page-50
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