CTL 0.00% 0.9¢ centennial mining limited

Ann: Half Year Accounts, page-2

  1. 786 Posts.
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    It is interesting what you learn when you read the fine print.
    As the previous mine plan relied on long hole stoping to produce the tonnes required and drilling during the December quarter has not provided the next long hole stope, the mine plan requires an adjustment with a focus on air leg (narrow-vein) mining. Pybar were de-mobilised to re-align the mine plan towards lower tonnage, higher-grade production. The Directors are therefore concluding the view that until the mine has demonstrated that it can operate profitably on air leg operations it is not in commercial production.

    Not a bad thing as long as they find high grades in their air leg operations. The air leggers have previously spent a lot of time on mine improvement. Not sure how this change is going to support the plant on a 24/7 basis.
 
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