Ann: Production and Financial Position Update, page-43

For people talking about the infrastructure and sunk cost, be cautious trying to value it this way. Finiss is a small, high-cost deposit in a market currently experiencing what looks like a significant oversupply. Add to that: the big incumbents (PLS, LTM, IGO) all have their own growth projects underway, there's more supply coming on imminently (LTR, Goulamina) and heavy ramping happening out of China still (per JPM data). What need does the market have for a small and very marginal deposit in a weather-affected area? Once bitten twice shy: good luck finding finance for this operation, even if management did want to reopen it. There's a reason this was all equity funded, nobody on the debt side wanted to touch it.

I stick by my January prediction that this is offline for at least 12 months, if not even longer: https://hotcopper.com.au/posts/71739370/single