They were expecting to reach nameplate capacity by the 2nd...

They were expecting to reach nameplate capacity by the 2nd quarter of 2012. Its good to see they are operationally cashflow positive.

As I have said previously they were sailing pretty close to the wind and would have run out of cash if the major shareholders did not exercise their options. That to me indicates that they did not wish to do another cap raise and I had indicated to management that it would reflect poorly on them if they had to do another cap raising.

They seem pretty switched on a forthright and hopefully we will all make some money but as the report says it will be another 6 months before we know.

Most capital expenditure should be funded by Outotec but with the plant being shut down twice during the next 6 months, cash might continue to look lean. There are more 6cent options left with sentinent and macquarie and getting their support again to cash in their options early would probably get them over the line.

Not really expecting much of a price increase until the repairs are done though as cashflow is a major issue until that occurs.

Nice post as always peppie.