Not a great day. I will be out of pocket over $500k, perhaps $600k. I only spoke to the company 3 weeks ago about how long they can withstand the lower ore price and the debt covenants etc and all was safe/good from the view I got. Certainly no one was happy with the price where it was, but I find it hard to believe in just a few weeks it could deteriorate this much. Was always in the end a big gamble/punt. Sell at a huge loss and recoup a pittance back, or sit & wait and hope for miracle with the price of ore.
Not a great day. I will be out of pocket over $500k, perhaps...
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