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29/02/16
17:17
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Originally posted by sydneyguy
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another option would be to turn on the commissioned copper ingot casting machine that is capable of producing 750/ton/month....unless of course that announcement by the company was false and misleading.
Because assuming it is true, the board could have brought in many many many many many many millions especially as it said it had stockpiled big amounts of nuggets (as per other announcements) ............... the costs would have been minimal as the cost to dig the nuggets up have already been sunk and the profit would have flowed almost straight to the bottom line, according to their announcements
failure turn on this machine fantastic machine, which was commissioned mid last year, claimed as fully operational with nuggets stockpiled doesn't appear to be acting in the shareholders best interest given the current operational and financial situation
but im sure there is some reason they would forgoe 10's millions in profit and prefer to watch existing shareholders get diluted or wiped............
all directors at the time should be made to answer this question imo, it was never retracted and as far as im aware they still claim to have the machine, infact they claimed they were upgrading it to a larger capacity.....................................
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Or !!! From the Vault !! What about those $210,000 truckloads being filled every 15 mins - sell some of those !
Classic post this one !
http://hotcopper.com.au/threads/ann...-copper-zone.2432597/page-30?post_id=14519234
"To answer hoots question, they probably have about one third of the high grade zone (or 5kt) of the $210,000/truckload ore in this bench, at best. Those trucks have a payload of 90t so you'd be looking at roughly 55 trucks from this bench at the quoted value"
Last edited by
h00ts :
29/02/16