Ann: Quarterly Activities Report, page-15

GSMI, I fully agree with your view.

Without sustaining capex the AISC is at 2,1$ which leaves a margin of about 1$, so without special effects for fixing the mine we should be an operational EBITDA of about 10M per quarter
And this with a heap leach production of less then 50% due to insufficient ore feed. No word about how to fix this other than that there are options on the table to source 3rd party ore.
So at full capacity, even with 3rd party ore, the C1 costs should improve significantly - but even if not - at nameplate we would be at EBITDA of about 16M per quarter.
Also no cost indications for starting the mining at Kipoi central, and they move the LOMP from Q1 to Q2 -so after a potential decision on the SPA.
No word about other options to the SPA. Did somebody read that the Senior lenders are in favor of this SPA? I did not find a current version of top shareholders but with Resource Capital about 15%, IFC about 10% and Taurus about 8% they have already a third of the shares.
I also tried to look for a comment on the trading halt, but could not find anything. If we would start trading before a decision on the SPA - share price would tank and the senior lenders could load more shares at a cheap level.
I do not see how other larger and smaller Shareholders like the Todds (8%) or Republic Investment Mgmt (6%) can find the offer appealing.
To stop the SPA at the general meeting we really need to find proper proxies as a proxy only has 1 vote. In past AGMs about 2/3 of the shares have been abstain to vote.

This is so frustrating ... I only hope there is somewhere a white knight within the war on cobalt.