Nikec, I am unsure if we have enough cash to pay debts. I think we remain solvent only because the lenders have allowed us to delay debt payments.
The last qtr announcement read in clear plain language that we could not meet our debt obligations under the current circumstances. I do believe we will get out of this situation but it will require a few qtrs to prove production and ensure the debottleknecking really does work. I also think we need Cu well above 2.70 as these were the price levels modeled under the debt funding from memory.
What I am really saying is this: I don't think anybody should be surprised or act alarmingly if the qtr results are terrible. It is expected. I personally am looking more closely to forward statements about the remedial works and the relationship with the lenders.
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