Its a mixture of things -the share price was up over 8 cents...

Its a mixture of things -

• the share price was up over 8 cents just over a year ago but then there was a stumble with the tailings filter press not being up to the job which reduced production far below what was planned - but this problem is now about to be largely rectified as some additional TFP's have been delivered to site and are being installed at the moment - these will operate in parallel with the existing underperforming TFP and once commissioned the additional filter presses will bring production back up to around 90-95% of the originally planned production rates - which with the current high copper and gold prices means that the revenue is well in excess of what the original feasibility statements planned for.
• late last year there was an ill-conceived attempt at a capital raising that saw several shareholders lodge an application with the Takeovers Panel to have the capital raising quashed - that application ultimately succeeded as the company withdrew the capital raising to try to avoid further damage, but the Takeovers Panel still made adverse findings against the company about the raising that they had proposed, and the whole ill-conceived capital raising left some question marks over the board and their priorities etc.
• the lack of promotion is probably the biggest problem - basically there has been none
• there is a fair bit of debt but not an amount that is over the top given that they needed to build a mine and processing plant and run utilities a fair distance to the mine site

Hopefully once the additional production is up and running very shortly there might be some more promotion which should help push the share price back towards the 8c mark again.