ouch9 Feb 2009 08:02
Read really poorly to me, but what do I know.
Stockpile of ore, ceasing of production and disposal of all bar core staff. Positives include commencement of $5million (in total) repayment due from Atlas Mining and a bank balance showing $3.3m in cash.
Says a profit of $1.5m to be achieved with nickel prices of $12,000/t. Currently $11.505. What is their cash burn rate, this would seem imperative to their survival, wouldn't it?