The infomation I have is that Glencore just this week saw it as...

The infomation I have is that Glencore just this week saw it as a unique opportunity to grab (steal) a valuable asset and went back on a deal to defer the repayments.

Despite the unprecedented fall in the Cu price, given that the company is run by an accountant it is a disaster that he allowed the company to become so vulnerable. The tragedy is that if the didn't expand production they would we trading today or at least positioned for another day.

But agreed Glencore are the pure villians. They supported the company for years and then backstabbed management at a vulnerable time. I am also lead to believe Glencore delayed forward sales of the copper as the copper price was crashing - hence increasing the eventual rebate.