Calidus' main Warrawoona ore body appears to be problematic -...

Calidus' main Warrawoona ore body appears to be problematic - something to do with folds in the ore structure, which allowed the reported grades to be higher than the actually achievable grades. Mention of "smearing" in the results, resulting in significantly lower actual head grade than the resource was supposed to be.
A couple of posters on the Calidus threads have worked there in the past, and posted that much of the Warrawoona body was uneconomic. Unfortunately their posting style was somewhat cryptic, or acidic, so before the receivership, they were discounted and pilloried. (Jezzathegeo, and Informativeation)

A further interesting angle is the large Haoma Mining tenements, and the JV's, Calidus had with them (Gary Morgan of Pollster fame is MD).
The Warrawoona mill will be a hungry beast, needs continuous supply, so finding sufficient higher grade material will be critical to future success.

A further complication - Dave Reeves also purchased the Nullagine Mill and tenements - along with a $45m rehabilitation liability - most of the ore at Nullagine is refractory, and the mill cannot adequately process it without additional cost (cost is debated, from low millions to closer to $100m)

Mark Creasey obviously sees value so it will be interesting to see what transpires - I still have a small holding, although don't expect to see any money coming from them.