Ann: March 2018 Quarterly Report clarification, page-32

My FY2018 Forecast Model shows GXY made a FCF = A$18m in Q1. There is no doubt that GXY is making money even at the elevated C1 = US415/dmt FOB. However the issue now is whether a FCF = A$18m for Q1 justifies a MC = A$1.2b. The answer to this question is what will determines the direction of GXY's SP at least between now and release of FY2018 Q2 in July. GXY's BOD have lalso ost credibility by not addressing a number of key issues and attempting to be vague in the QR. The market does not appreciate this kind of behavior hence the SP reaction.
So until the BOD re=establish their credibility and release of the FY2018 Q2 Report I suspect GXY's will be put under severe pressure by Mr Market. This I'm afraid is the reward for poor business and management performance.
I for one shall be enjoying the downhill ride.
Please DYOR