A little more colour for the trouble they are in. MSP is...

A little more colour for the trouble they are in. MSP is struggling to produce a clean zircon product, so even if the mining, tailing and WCP HMC production issues are sorted they are looking to sell ZIC + Ilm +/- Rutile (maybe even turn the MSP off and just sell a HMC?). Obvioulsy they were running out of cash, will run out of cash and close down, unless at least WCP can get towards nameplate and some value-add to the final products is possible.

The new plan requires a rejig of debt repayments to buy time and more cash to reach possible production scenario where the mine generates free cash sufficient to repay a delayed debt schedule. If Coburn can finally reach a situation where it can wipe it's own face but not generate enough free cash to repay debt, then shareholder equity gets wiped out and ownership transfers to the debt holders who will try to recover as much value as possible operating and/or selling the project debt free.

The Top 20 did well to all start exiting after August... wonder who sold what since and if Luke still holds? Maybe someone can be bothered requesting a top 20 from the registry so we can see if his early departure was about monetising what he could from his free shares while he could?

GLTAH