I believe that the $30M will have disappeared fairly quickly.
Consider that the current liabilities (ie; within the next 12 months from July 2015) ae around $40M.
This includes short term loans of $8.3M from Sino and other suppliers who won't take scrip instead of cash (which is wise considering others have converted debts to scrip and seen the price tank). This money, you'd think, would be payable ASAP.
Secondly there's a tranche of $19M due by March 2016. So even if all the $30M hasn't gone out the window immediately, $9+19 = 30M between November 18th and March 2016. So the company MUST raise more money before March 2016.
This would require a full length prospectus for the rights issue. I'd say this is what is holding up the company trading again, as the feasibility study is clearly a document of some rather extreme price sensitivity. in fact, if the FS comes back and says no one will make any money, and the mine isn't profitable at US$2/lb you'd expect that no one would buy any shares, eh?
If no one buys any shares, you'd expect that the company would find it difficult to pay its creditors. Let alone meet the next loan repayment. let alone finish the plant.
As for whether you need a fuel farm for a set of generators....well, if you've got no electrical cables to put the juice through, you don't need generators and you don't need fuel, i suppose?
CDU Price at posting:
$1.11 Sentiment: Sell Disclosure: Not Held
