.y. Lynas finances are not how you portray them, if you review the repeated recent guidance by Lynas. You could refer to previous guidance's not meet, but you cannot just keep referring to past, you need to look at the current situation.
The current situation is proforma balance sheet of $61m at 30/4/14 giving actual cash of 21m at 30/4/14, and entering May producing sufficient to be close to cash flow neutral.
So with funds of $61 million and moving to cash flow neutral and beyond, the $61M should carry the company for quite some time through into a profitable sustaining enterprise.
Lynas debt is obviously a major issue that the company is addressing with the goal of restructuring, i.e.,postponing repayment until expected future profitability facilitates debt reduction.
LYC Price at posting:
11.5¢ Sentiment: Hold Disclosure: Held
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