Firstly hoots, you should read more carefully...."as at 31st of...

Firstly hoots, you should read more carefully....
"as at 31st of December there was only $5m worth of ore inventory"

...it's on p14 not p15, but you forgot to mention the following....

"Ore stock is carried at the lower of cost or net realisable value"

So if the cost to mine was the advertised $1.90/t, then there is 2.72Mt of ore. The way you will look at it though is that the ore content is only ~1000t of copper, and the grade of 500,000 tonnes = 0.2%.

According to the statement it should be one or the other, I plan to ring and find out on Monday.

I will also be asking the obvious questions about why there was no announcement about the crusher not working properly, and when this was known. If it was known before the SPP, then I believe that shareholders were misled into purchasing, likewise the underwriter. This has serious ramifications for the directors if this is the case and anyone loses money over it.

To release this at 5.25 on a Friday afternoon is appalling in shareholder relations in the very least.

At this point in time, I'm giving a TU to the downrampers who have been correct on the crusher issue.

You'll notice my sentiment has changed for the time being.