I'm not all over this operation but I would have been flogging 1 of those pits hard to get to the ore and then start stripping the next one once the first can provide sufficient ore to smooth out SR and defer costs. Maybe the wall failure really fu**ed the plan up (if so, should have been reported to market immediately). Same principle to what you're suggesting. Again, have only followed this stock in the last 4 or 5 months but at least one of these "pits" is a cutback of an existing pit so potentially had to take the lot rather than staging operations.
Would be interesting to see what the "NPV" of these early operations was supposed to be and how far from the mark they were.
BLK Price at posting:
6.0¢ Sentiment: None Disclosure: Not Held
