Good news is that some one is buying the AL 80 , which appears to be approximately 30% of the processed tonnage , surprised that no details on $ value of these sales was disclosed . Hopefully it is well above transport costs , and not just a saving on the cost of land filling it . At least it results in a closed loop result .
Bad news is it appears Sims may cease further feed , resulting in reduced processing beyond 2014 timelines .
Alcoa appear to have not come to the party on sharing the increased cost of the process , simply maintained the current contract terms .... real catch 22 what can MHM do if they don't agree to a continuation of the terms they have no business .
Without the R&D handout the cash was under real pressure of running out come June 30 .
Surely it is time to diversify now before the cash is gone ???
Find an add on business that can generate positive cash flow rather than struggling forever with this high risk approach the previous board and management dreamed up.
MHM Price at posting:
6.0¢ Sentiment: Sell Disclosure: Not Held
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