From the report - seems they produced 500 tonnes of copper from a plant thats not ruuning to well in fairly quick time
Imagine would it could pump out if all was going well ?
5.1.5 Work in Progress The directors reported work in progress as having a value of $344,122 as at the date of appointment of Administrators. Whereas processing of ore had ceased at the date of our appointment, the Administrators continued to process copper that was in circuit (work in progress), a process that was completed by mid-February 2009, resulting in a total of approximately 250 tonnes of copper cathode being held for CMR and an equivalent quantum held for HAR under the terms of the Oxide JV. The Receiver and Manager subsequently took control of the CMR stock.
Regards .....
CMR Price at posting:
15.0¢ Sentiment: None Disclosure: Held