Holders stay the course

Thinking about the cash shortfall in November, they did say at the AGM that they had just recently done a mill reline. I didn’t have the wit to ask if that incurred a reduction in production. Most likely the reline would have occurred sometime in November.
How much does a mill reline cost and how long does it take? Could that explain the November cash shortfall?

Given that the recent throughput has been utilizing most of the plant processing nameplate capacity, a lost week probably could not be fully caught up in the month, and would reduce the month’s production.

Dealing with oxide and transitional ore coming out of the Plutus2 pit could be another factor. They either stockpile it, in which case they get no copper from it, or process it for not a lot. Either way they have dig through it to get to the richer sulphide ore.

Roughly 2.5% of the stock traded Tuesday, 0.6% Wednesday, 0.5% Thursday & 0.3% Friday for a total of circa 3.9% since the lifting of the suspension.

Perhaps it’s a case of making a virtue of necessity, but it doesn’t appear that holders are exactly bailing out at any price – not yet anyway.

I assume that before the company can recommend to the share holders any deal that might be on offer, they have to get some sort of “independent” valuation. Presumably the catch is that the valuation takes into account the circumstances, which inter alia, would seem to involve a barrel. .Where's another bidder when you want one!