STTCOMP FND, FA Long
Finders has a copper project on an Indonesian Island of Wetar that recently started producing its first copper from its newly commissioned plant in June.
Today announced hitting 87% of nameplate and expect to complete September at nameplate; 28,000 pa.
They have hedging in place and that is well and truly in the money.
The subsidiary company BTR forward sold 40,700 tonnes of copper at US$5,940 per tonne with today's price of $US4,622 dollar i am sure they can monetize this with the agreement of the lenders.
The $US53 Million would make dent in their loans
At full production Wetar has an AISC ofA high proportion of ownership would appear to be in sticky hands
The top 20 shareholders held 74% as at the publication of 2015 Annual Report
http://findersresources.com/finders/company-profile/
Wetar is now nearly up and running
Current Share price 17.5cents,
Market Cap $117Million
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