lei88
Yes, this is one of the strange aspects of the LYC story.
If phase 1 is marginally profitable, and all the setup costs of phase 2 are already sunk, then the production from phase 2 becomes most profitable.
Simple numbers - ASP $22. COP $15 = $7. This is about $150m PA. More than enough to fund repayments, interest and other liabilities. EPS between 3 and 5c depending on other one off costs. SP would be 30 - 50c, a darned good return from the current 16c.
And yet LYC maintain they will not ramp up phase 2 unless profitable. Something does not add up, unfortunately just one more question mark about the info LYC pumps out at times.
my spreadsheet, page-9
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