Ann: Trading Halt, page-121

Something very suss here with an "Operational Update" followed by complete radio silence, and then a surprise CR and no mention for the cause of the "Operational Update".

So which is it?

1. Operational problem on-site affecting production --> incompetent management
2. Sudden surprise that the coffers are empty ----> incompetent and untruthful management

Using a process of elimination maybe we can guess?

A) Wet weather interfering with trucking/airport/logistics etc - unlikely and news would have leaked out somehow & doesn't explain CR
B) Done a mill motor or some other crucial equip.- possible if a long lead item without spares - might explain how an Op update becomes a CR?
C) Geotechnical problem with underground decline/portal - would have meant mine evacuated & news would have leaked by now
D) Some left field accounting problem or dispute with completed construction contractor resulting in sudden cashflow crisis - means that the first Op Update announcement was a fib or an attempt to "buy time".
E) Unexpected high grade ore discovery - not sufficient for an Op update or a CR
F) Safety/environmental incident resulting in regulatory shut-down - news would have leaked by now
G) The Papora Wisdom is due to arrive at Port Klang in Malaysia on the 18th April - anyone seen it yet?

Open to other ideas but there is a limited number of thing that can happen to a brand new underground operation be worthy of an operational update which then becomes an emergency surprise CR without news leaking out via the workforce or locals.