O where to start. They ran out of water again and burnt another...

O where to start. They ran out of water again and burnt another $ 9 million of cash. That's $3 million a month and they only had $ 2 million a month ago. Hellloooo

But mate what are you saying, downsize concentrate on making money. No no I can here @gopherbroke. It will be ok, it a journey, we just need to get the TMG deal done, that will save the day.

Who would buy Saloro, as per the mining plan will hold it's ground for a couple of quarters, but it's not making any real cash and no where near enough to pay back the debt.

IMO Mt Carbine is by far a more superior asset and the issues are of there own making. They raced into the open cut with out doing the drilling. I think the attention had already turned to the Saloro deal. So the grades were never their and it coursed dilution. So if they had done the drilling they would have had a better mine plan. Then with the issues taking longer to fix the cash flowed to Saloro. So at MC they have lost at lest 9 months of stripping of the high bench's / plant expansions / dam walls etc and as a result they could not get the capital from QIC for the underground.

But the damage is now done. It is going to be interesting how they get out of this. They need a lot of cash NOW and with the Saloro debt EQR shareholders could end up like Ormonde with Oaktree owning this in a few months.

Also we can now see why @scottm has not been posting. I am sure he and others would have been aware of the water issues in early November and that the plant was shut down in December.

With EQR being cash flow negative, low cash at bank and there guidance was for similar production as last quarter. How does that work with continual disclosure??? Being that production was down north of 20% and then the plant shutdown. Sounds price sensitive to me.