SO after a lengthy discussion with a fund manager mate of mine...

SO after a lengthy discussion with a fund manager mate of mine in the UK who's deals mainly with the resource sector & knows this little story well, i've now got a much better picture of what has transpired over the last few years. SO long story short he said Macray resigned from CDU because the plant he specifically ordered and the quality of the plant was not as purchased. In a nut shell.  

SO i fully understand that, and that part of this side show is now past tenths, so just looking at what has happened since then & after 3 years since he resigned, why hasn't CDU changed the problem parts that continually stop it from working 24/7?  The copper grade is quite good and the recoveries are ok, but the availability of the plant in the companies own words is less than 60%!!  

SO the part of this I'm having trouble grasping is for 15 months the management keep saying the plant cannot operate for more than 60% of the time. Which begs the recurring question, why have you not fixed it!! My guess is that the contractors that built the plant are the people managing it and are happy supplying the parts that continually wear out, making a fortune out of the company. This really could be the only reason as wild as it is!

SO i suppose I feel most sorry for is the current CEO Mark Gregory, I assume it would be difficult for him to sleep at night with this significant conflict of interest looming with Sinosteel who built the plant and now the Chief Operating officer running the whole mining and processing? He must have nerves of steel for staying and watching this whole project dissolve in front of him,  and will in no doubt be a black mark on his resume. "unfortunate scapegoat for Sinosteel", he definitely deserves a medal for staying on and wearing this Chinese disaster.