Cdchi1,I am not saying there are no options. But lets think...

Cdchi1,

I am not saying there are no options. But lets think about this strategically.

If CAPEX is stopped/halted, then the impact is that hedge is closed and we are 50M richer. We then do not need to isolate this funds for CAPEX. I think this is also what you are alluding to in your post.

However, we are now exposed to an uneconomic POG. AND, there is no hope of it being economic as we dont have an expanded plant. The primary objective of the EPC is to bring the materials handling size down before processing. This saves on downstream power and secondary materials additives. The EPC/Expansion makes the most of low grades/high throughput.

If this plays out, we would be reliant on processing and/or find higher grade ore to try and save on costs. This is a huge gamble as it is finger in the air stuff. I fully appreciate that ore reconciliation has been above reserve, but this is a fluke (i.e why it wasnt aniticipated).