rocket, by my fag-packet reckon if they haven't lost $15m its more like $20m, and that will have put the noble debt back to guessing $35m. if noble had done debt to equity they'd own the company outright. the market was really quite nice to tyt today but once the market is fully informed (take your pick from unmineable mining reserve, no high grade, high strip, plenty of dilution, shipping schedule a total fantasy, and underwater dredging) i can see it heading down to bunbury, dunsborough, or maybe even all the way to albany.
word from black toms in west perth is:
cost to run operation for 3 months = $25m
revenue from the estimated 1 boat of low grade they managed to scrape together = $ 8m
loss = $17m
have you ever met a bigger bunch of spanners than these blokes ? if the board is appointing a new ceo its probably not before time - the boy sitting in the chair now needs to take a good long look at himself and go and learn about mining.
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