Thursday, June 14, 2012 5:18:55 PM
There's n cash flow tightness.
What there is, is a declared screw up on the mill budgeting by between 6m and 15m bucks. (Why the spread in that estimate is so gawd-awful wide goodness only knows.)
Markets don't like it when companies screw up big BIG figures. (Are they really sure there is an unexpected 25% cost inflation for this mill expansion?) That extra cost of the mill could have been used to make more discoveries in promising areas. Until this silliness they were doing both exploration and mill expansion. Now the emphasis is really just on the latter.
I'd say 4 out of five toes were shot off with this weeks news.
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