The current situation has been entirely created by management and not the "global economic conditions".
This management group inherited a bankable project and through their own arrogance and delusions of grandeur turned it into an unviable project - they all need to resign in order to get this project back on track before it's too late.
According to former CAP managing Director Quinton Hill on 1 August 2019 speaking on the PFS results:
"We will mine and process on site, take power from a nearby power line, take water from an identified aquafer 19 km's to the south then we will mine and process and slurry the material 50 km's to Broken Hill where the rail line is, dewater send the water back, there are 12 million tones of spare capacity on that rail line, and that will take the product to Port Pirie or Port Whyalla, we are in negotiations with the owners of both those facilities, they both want us there...we will finalize those discussions at the right time. IT IS KEY FOR 2 REASONS: IT KEEP THE CAPITAL COSTS LOW HAVING THE EXISTING PORT AND RAIL INFRASTRUCTURE THERE AND POWER FOR THAT MATTER AND IT ALSO REDUCES THE RISK OF DELAYS BECAUSE WE DON'T HAVE TO BUILD A RAIL LINE OR A PORTS, RIGHT AND THEY ARE KEY SORTS OF STEPS IN KEEPING PROJECT METRICS ON TRACK..."
At current IO prices the annual 10mtpa profit is $870M per year with a mine life of at least 50 years, this is a viable project right now, its the management who has dropped the ball...
Carpentaria Resources (ASX: CAP) Investor Briefing - 1 August - YouTube
