The things I found interesting / encouraging in the preliminary...

The things I found interesting / encouraging in the preliminary final report were:

They are forecasting an increase in copper production / volume sales of 40% on 2016. Pretty hefty increase especially when you consider most of the lift would be in the second half of the year when the cutback has been finished. The "step change" in late December coming through to date must be reasonably impressive.

There is far more detail about the AEM / EHL deal in the going concern note. While most of it is moving payments from now to after the cutback is finished (and the rivers of cash are flowing!) it seems to say that the cost reductions in charge rates is about $1m a month which is pretty hefty.

If you feed the current copper price into the company's DCF model you would get a valuation well in excess of $100m which would equate to a per share value of 20c even on a fully diluted basis. Any increase in the copper price would be more cream for the cake

We are still in the desert but the promised land is getting closer.