The ESG potential takeover and top up is a plausible reason for...

The ESG potential takeover and top up is a plausible reason for finance delay. I hope thats what it is and I hope their strategy is based on a better source than the HotCopper ESG forum lol.

I have no doubt bankers are asking for an arm and a leg in the finance deal...and why wouldnt you include convertible notes in the deal when the SP is so depressed? If they choose to exercise notes in the low 40's they stand to gain a big share share of Kanmantoo at below cost and Indonesia upside for nothing. Mgt will want to avoid this.

I will be the first to ring and congradulate MGT if this comes off and we have $50M extra in the kitty come Q1 next year.

However,I doubt much copper will be produced next year because of the delay in starting construction.
According to my calcs they have forward sold 625t per month at A$8500 from 2012-2014. If copper is selling for $10000t we are losing nearly a million dollars a month after 2011 of no production

I really thought a change in Mgt would bring a change in communication. So far all T can see is a change in report format.