Major issues at Koolan. Red Flags for me:The statement about...

Major issues at Koolan.

Red Flags for me:
The statement about strip ratio being the major cost cost driver (true) and the fact that the last quarter the SR was 0.5 and it is anticipated to increase to 1.8 next year will result in significantly increased costs (on a $/ORE T basis).

The picture showing the pit. They've dug out the toe of the existing ramp in an apparent effort to extract as much ore in the short term as possible (see recent ASX announcement where directors received significant incentives for performance over past year), which will likely make it significantly harder to "reposition the ramp". From the pictures, id imagine the only way to reposition, (dig out the existing ramp and reestablish) a new ramp would involve backfilling the bottom of the ramp that's just been dug out or cutting off access to the bottom of the pit for significant periods. This situation would be due to the geotechnical issues that the company played down and they've just kicked the can down the road and it's about to catch up with them this year. My commentary is based on a photo and recent announcements so this is my interpretation based on limited info. Big red flag for me anyway...