Hey redbeardYou're right, it is a little weird. In the grand...

Hey redbeard
You're right, it is a little weird. In the grand scheme of things I know jack about mining.

I have 1 idea however though. Perhaps this was never going to be profitable up until a minimum of 8mpta was achieved?
It seems the plan was from the very start to get this mine going at 8mtpa, which we will apparently be hitting now with the 3rd water cannon


(damn that's a big photo, but you get the idea)

"initial processing rate of 8Mtpa." are the few words that are making me think that 8Mtpa is the break-even point and always was going to be (Excluding any savings Nick Cernotta from FMG brings).

It is strange that last quarter was not profitable as most here were expecting. I'm not sure where that rumour came from or if it was announced to the market.

Anyway... Maybe, just maybe, now that NCZ have hit 8mtpa (winding up to 10mtpa they think) we'll see some profit which will go towards the $63m over the next 15 months that we need to invest to reach 15Mtpa






They're targeting 15mtpa by the end of this year, however I think that's a bit optimistic as it was initially expected to take 15 months once 8mpta was achieved. If they do this then they've managed to do it in just 8 months.
Happy for them to prove me wrong though!

I don't hold atm. Bought the other week on the surge to 90c out of FOMO, but sold out the next day once seeing the weakness.
Hunting for entry again.

Would love to hear your thoughts redbeard (and anyone else!)