Ann: Coburn Project Operations Update and Management Changes, page-6

Sorry, no operational lube for the debt repayment restructure. Worse still, production went backwards badly, ZIC quality price discounts (new Chinese buyer sounds like original one didn't like what they were getting with old stuff?) and only selling some HMC in Dec means probably down to fumes in the bank... now expecting another large CR to go with delayed debt repayment schedule (once they work out how much they need).

It's well and truly the JP shtshow now with almost all operations management his guys or development people from Luke's empire building development crew transferred across and put on the tools. sereal to read the same issues Luke said was fixed 6 months ago still happening...

Nov improvement in HMC encouraging, but "9 days at 85% nameplate HMC" without major breakdowns is hardly much to crow about. So much needs to go right and stay right for months on end to make bank. If bondholders are nervous, shareholders are pooing pants...