An interesting presentation on the modern use of a monitor....

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gsmi086

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10/05/17

17:56

Post #: 24605574
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Originally posted by bubby ↑

Nobody on here should have expected anything other than a horrible quarter. We were warned about it, we new how bad the situation was. We knew the aisc would be huge. What was we needed to know were the operational fixes. To me, there was limited detail. It's hard to know whether Sampson's fix will actually work. Either way, we will be in suspension land for a lot longer yet until something with certainty transpires.
Ironically, what is in our favour is the debt the lenders have in the project. It is THEIR problem unfortunately for them due to the scale as the value is still in the ground. The money simply cannot be paid back as the current situation stands. All of us could speculate any possible way out of this like debt to equity deals, but at the end of the day the debt stands and the lenders probably have no choice other than to ride it out and provide waivers until the fixes happen. From the lenders perspective, how else can they recoup their loot? They own the company and the only way to get their loot back is to have a working mine. Everyone is stuck in it, so let's see if Sampson has the clout to get out of it.
The report read like it was 'business (almost) as usual', with forward looking plans.
Where on earth are some details around the cobalt, VAT and technical aspects of the fix?
And seriously how long do 'ongoing discussions' have to take place for? It's been months since this happened. Everyone must have an idea. The way we have been left in the dark is unacceptable.

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An interesting presentation on the modern use of a monitor. Still, need to get lots more detail around this.

http://www.ausimm.com.au/content/docs/cobar_1540_ross_garling_hydraulic_mining.pdf

TGS Price at posting: 4.9¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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