The cash spend is running at about $100m a year as i forecast about a year ago.
At this rate, all remaining cash will go during this quarter and they will need the loan up and running to continue.
Mining has only added 400,000 tonnes to the stockpile in the last 12 months as there was 100,000 tonnes on the stockpiles in early april last year. the report says that 100,000 tonnes is of high grade without specifying what that grade is. The quantification of the stockpile is very vague indeed as a result. Doesn't sound like there is much there to highlight because of that vagueness.
That seems a bit low to me considering that many here were on about 1 million tonnes being done to the stockpile.
Thats a bit over 1000 tonnes a day added to the stockpile but they keep reporting that ore plus waste can run at 40,000 tonnes a day. I can only assume that they don't run at their max for many days in the year.
They say that DSO will be produced "over the coming months" so its still not clear when it might get shipped and paid for.
CDU Price at posting:
$1.88 Sentiment: Sell Disclosure: Not Held
