$700 cost of production, the world's highest (cf SYR at well...

$700 cost of production, the world's highest (cf SYR at well under $200) is not proof of lack of profitability but it's a strong indicator. The prices they say they can get have never actually been achieved and they have produced flake for sale. But all this is irrelevant, as i have said buyers demand company stability, place an order and the company goes bust, pay for an order and the company is in administration. No buyers will touch it now. Likely insolvency cripples all commercial relationships. Management would personally know the company is finished but it's their responsibility to share holders to slug it out - and they get well paid to do so. On the SP it's possible it will only suffer a 50% fall immediately, funds may want an orderly sell off to unload without completely destroying the SP on day 1. That's the time to get out, in a few days it would have to be a couple of cents or less.