Do we know what price we're getting ? They're obviously happy...

Do we know what price we're getting ? They're obviously happy with quality, however we can't be selling it a loss.

You will only know the price ther'e getting in the quarterly and the prices they do receive have some hedging involved which will mitigate price drops to some extent this quarter . But you can only sell at a profit when prices are above AISC and thats a long way above current spot prices.

Elevra chose the ride it out approach by raising cash which at the moment is looking more challenging by the day unfortunately . I don't think anyone expected prices to get to the level they are now and I doubt any hard rock miner is making money at the moment.
You either sell at loss and hope prices recover before cash runs out or go to C&M/ cease operations, its not a lot more complicated than that for miners.

it doesn't matter how good Sylvain and his crew are you can only get production costs down so far before requiring more spending and more spending is out of the question when the thing you have no control over continues to drop and you need to conserve cash...its tough out there and made more so by having no clear indication of when things will turn and what prices will go to or how long when it does so.

There is no end of theories out there but very few facts other than the sector needs higher prices and the sooner the better.

Cheers Whisky