what is worse than any gold plating, is the implication that the plant is almost useless. they say that they need to build a second plant to allow for the downtime of the gold-plated one. they seem to be saying, that all they can do is patch-up the problems of this plant.
All because of the poor design of those plant. who was asleep at the wheel 2-3 yrs ago? where are the engineering experts now? does this mean Wharf was right all along?
at what point does Alcoa say "enough", and take possession of their security?
at what point does ERM say they will not keep putting money into a black hole?
this is the statement we all should be focussing on:
"Empire is currently discussing with both its major shareholder and provider of the credit facility ERM Power and other parties to obtain additional short term working capital funding whilst it continues to work to improve the Red Gully Facilities operations and performance and implement its strategies to position Empire for the future."
EGO Price at posting:
0.8¢ Sentiment: None Disclosure: Held
