There is no doubt in my view that ARD have dedicated and...

There is no doubt in my view that ARD have dedicated and professional staff who know what they are doing. But they cannot control metal prices. The industry seems to be moving into a regime where those producers whos costs are in the lowest quartile are the survivers and those whose costs are higher are destined for a hard time or closure.
The current drilling operations at Kempfield target a deep resource. Read costs are likely to exceed the lower quartile therefore development in the current climate is unlikely (assuming a potentially commercially depsoit is found.) If the West Wylong copper target averages grades less than 0.8% copper it is unlikely to get of the ground as there are some very large deposits of this grade waiting in the wings for development in low cost regimes like Chile.

As I said in a earlier post, I think ARD's management should husband their funds for survival. Take whatever salary cuts are necessary, and remain poised in the wings for the appropriate time. But it's just a view and my crystal ball broke long ago. I hope I am wrong.