the cook,
You have heard from more than one employee of the company - personally ?
that is a very big call that has the potential for very serious ramifications for, or worse still, by readers and shareholders.
This is an extract from the December 2015 Kcccc meeting with a member of the gallery asking the CEO Steve McClare about the mine's future in a low copper price environment -
The community
member asked specifically about a mention of the State wanting to triple the level of copper
output by 2030 and asked if this meant that the Kanmantoo Mine would be operating until
then.
Steve said that the tripling of copper output was the aim of the State and applied to copper
mining generally rather than Kanmantoo specifically. Kanmantoo would only operate while
there were commercial deposits to mine and PEPR extensions are granted. He reiterated
that Kanmantoo had current approvals until 2019. He said that Hillgrove was hoping to
extend this by finding more deposits or making the existing marginal resources commercial
through good practice but this was on –going.
Along the same lines, a member of the gallery asked about the impact of lower copper
prices on the mine. Steve said that this was one of the commercial issues that was being
considered in planning for the future but currently the mine was in a good position due to its
hedging strategy which insulated it from the volatility of the spot market.
I wouldn't have thought the situation has changed much for the worse in the last two months?
Is your sentiment really hold or did you mean sell ??
GLTAH.
