hidden in the detail,spur gear collapse announcement reducing plant capacity----up to 6 months running Jerry rigged. however,new small plant purchased and 3 month payback on leased gear replaced. Staff reductions but the hiring of 4 airleggers to pick out 10g/ton ore,worth 4koz/QTR or $6m gross a QTR.The economics very obvious.
Sounds like too much at stake for Mr Eshuys to throw up his hands,while also highlighting the direction the $6m sought was to be heading while operations sitting on shaky ground with a mill feed starved.
Sounds like time to start pulling in some old tailings piles from near and wide.Obviously the tailings dam resource isn't economic as yet.
DYOR+DYODD
AXM Price at posting:
4.2¢ Sentiment: None Disclosure: Held
