At a guess I’d say maybe it’s a combination of a few things.
1. They overestimated how much was ‘on the ground’ easy to do when your trying to estimate via caplamps
2. The rental gear just wasn’t up to the job, so the small amount of ore it was producing was just not worth it at this point when every $ is needed to get ‘proper’ mining underway
3. Focus has gone into testing the metrics on P200. P200 takes this to an entire different level. +60 cents
Ann: Placement Request under Equity Placement Agreement, page-44
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