Ann: Request for Extension of Voluntary Suspension, page-3

Everyone by the miners shut down for Xmas hols... certainly no time to try and re-list with the required CR. Instead of a pineapple in our Xmas stocking from STA, will be a SPP gift voucher for the Jan sales (or closing down sale, time will tell).

Seems a game of ducks and drakes to me, the longer negotiations around funding requirements and changes to debt terms take, the clearer picture all sides have of where and what sort of 'steady state' Coburn is heading into. Two edged sword though... if production trend is strongly improving that means better CR terms but more onerous debt fees/penalties (because they feel they can), but if production is still struggling CR will be difficult and highly diluting to STA, but creditors will be so nervous about ultimate large losses they will be trying to buy time and headroom for Coburn to survive, not adding more costs to their problems...

Meanwhile, a salutary lesson in management BS 101, and HC BS from those who don;t understand the difference between "eventually the mine will get sorted" verses "under whose ownership and will shareholders get diluted or wiped out completely first". I lost fingers catching this falling knife days before the CR confession, but took some large losses while preaching DO NOT average down until the risk profile had turned positive. Fingers crossed they can actually fix enough of these problems been plaguing the mine for 9 months to demonstrate confidently positive operating margins sufficient for shareholders to stay in the game.

GLTAH