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Now I posted about the Holt mine complex. In we produced over , oz but in we went down to say 21, oz give or take. Seems we are in a partnership with NEM. Since we have shut it down and have it under maintenance what is the real story there? Low grade ore? To much cost per ton or did we drill into a void and find alien artifacts?
Laugh now. Since this area was volcanic who knows what is under the ground. Now KL is picking the grades they want for the mills. They are piling up the low grade piles and will use them in the future when the mines play out. The south African mines did the same thing when they closed the mines. They did not run out.
At this time, the company can only pay for a few essential vendors, fees and taxes, insurance premiums, legal counsel, and utilities required for commercial operation, to name a few. Its mining expansion contributed significantly to its rising costs. Several interim motions were presented during the first court hearing in July, including funding for costs associated with a still-under-construction mining plant. Celsius has previously stated that its mining operations will assist it in repaying a significant portion of its liabilities.
These expenses and obligations have risen in the previous week. Nonetheless, the legal team claimed that it had certain lenders who would continue to support the business. It was unclear whether Celsius planned to engage in lending or trading activities with this Bitcoin to increase their financial gain.
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