Hi Hussy 0.05? That's a bit melodramatic.. The problem of CAI is...

Hi Hussy
0.05? That's a bit melodramatic..
The problem of CAI is the original assessment of the head grade for Klondyke was wrong by 30%. So the debt became a burden and when inflation hit the hedge made things worse.
The restructure has provided a way to solve the problems. CAI will accumulate enough cash to finance the satellite high grade JV deposits which will compensate for Klondyke's deficit. The debt will continue to drag on the free cash for at least another 18 months and the hedge likewise but there is a path which results in CAI being debt free.
As far as the SP... on current fundamentals there is little incentive for people to buy. If management executes the plan without further problems emerging the turnaround will be more obvious and CAI should rerate strongly.
If instead CAI was currently debt free it would not be trading for this low SP. I am a trapped holder (like many others) who bought in on the strength of the PFS. If those numbers had been accurate CAI would now be cashed up and enjoying the higher PoG. The PFS was scrutinised by 3 independent experts and they all got it wrong... management can not be blamed for that. Given the circumstances management has done very well to navigate the company to a positive outcome. A few $hitkickers have come on to the forum to lay the boot in. Shareholders of CAI will have the last laugh.