This is a classic example of company gaslighting shareholders... and gaslighting works judging by the posts on HC. At least they didn't start with "Pleased to report"
Gaslighting as you know, is manipulation that makes one question their own perception of reality until they start believing they are wrong, and something bad is actually right. Coburn is supposed to be producing 240ktpoa of finished products (20kt/month), not just HMC, and even then with huge cost inflation not exactly a cash cow. How is it they can tell shareholders that 10,500t in Nov is a positive update just because Oct was so f'ing bad at 4,500t HMC? .... and posters are lapping up the news like an abused spouse grateful they only got a backhander this morning
Seriously, we been in an information vacuum for two months wondering why it's taking so long to update us with the new plan, debt restructure and associated CR and it turns out they only produced 4,500t HMC in October. No wonder there hasn;t been any resolution, what idiot would tip into a CR when 12 months after first production the mine's still only running at 25% nameplate! No worries, 10,500t in Nov is a doubling of production so STA aren't going under and it's sunny days ahead.... gaslighting!
50% of nameplate won't cover costs, especially when its sheet quality HMC and "The Company’s marketing team has identified several potential new HMC customers. Discussions are progressing based on recent samples and analysis undertaken by the potential customers"... wtf people, they are desperately looking for new offtake buyers because the old ones are like yeah, NAH. It's montypythonesque ...
(20min delay)