Ann: Oxide Project Set to Boost Scale of Productora, page-30

Thanks Colonel. Deserve a demotion to Corporal for your mean spirited behaviour.


Ongoing homework.

Productora et al ain't no Escondida.

In Chile....Sadly some 168 Copper operators closed down in Feb due to spiraling costs and low copper price. Grade is king!

Not sure how the SIR comment is relevant. SIR is mostly Nickel. It is fully funded and developing its mine. It has high grades, an offtake agreement, and expects to produce at lower quartile cash operating costs. It is not an inexpensive stock, and shareprice bumps up and down, so those that wish to "trade" often do so.

HCH. December Q 2104 Production Report.

"MOU also establishes that Hot Chili will grant CMP an option to acquire an additional 32.6 per cent interest in Productora for a minimum cost of US$80 million and maximum of US$110 million."

Appendix 5B. Net decrease in cash held $10.674m No where near a balanced budget, Unless you are Swan and Shorten. Estimated cash outflows for coming quarter $3.0m. Expected VAT inflow to offset as stated.

The Annual Report to shareholders also makes interesting reading. And i quote:-

"The Company does not have in place a formal process for evaluation of the Board, its committees, individual Directors and key executives".

At present, the Board does not comprise a majority of “independent directors”.

"The Chairman of the Company, Mr Murray Black, is not an independent director in accordance with the criteria for independence as outlined in Recommendation 2.1."

"There is no nomination committee. There is no audit committee. The Company has not established a separate remuneration committee and does not have a formal remuneration policy in place. "