The dimensions of the underground mine mean that mining above the depth they have drilled to make profits more marginal as they haul the ore all the way back to the plant. They chose to pursue greenfield exploration elsewhere. When prices rise and the plant is paid off amortized they will go after that ore. Like other mines (c.f. MAC's Cobar mine). The expense of deep drilling from surface, as opposed to later drilling from inside the underground, makes them want to hold off till they get down there. Further, the mine is constrained by the tilt of it.
I believe that was what was explained to me but people will jump down my throat if I haven't been detailed enough.
All IMVHO.
NWC Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
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