CXO Capital Raise at 5 cents, page-90

I don't understand your comments.

When Core was in its pre-production phase, they had operating costs under $2m/qtr or <$8m/yr. If Core were to shrink back to that conserve costs, pre-production status and hibernate (not what I think they will do), $80m lasts over 10 years not the few quarters that down-rampers suggest. The wild card that could increase this cash burn is onerous contracts because they didn't exist when Core was previously an explorer transition to production.

The information released by Core to work from is incomplete but its clear that Core was mining the expensive higher strip ratio areas of Grants. Most of the planned open pit recovered ore is still in the ground which is confirmed by Core's ore resource update. Most of the costs to enable that recovery have been incurred. Costs should be lower going forward than they were, how much lower is yet to be confirmed. The ex CFO noted that ~85% of the waste rock movement for Grants was complete but from the Ore resource something around 1/3rd of the planned open pit recoverable ore has been recovered. The flip side of that equation on restart is compellingly low economics. 15% of waste rock removal costs for 2/3rds of the open pit ore produces low mining costs.

If forward looking mining costs are low, Core's future looks good.