1MC 3.13% 3.1¢ morella corporation limited

Ann: Quarterly Cashflow Report, page-16

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  1. 9,073 Posts.
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    I think September is probably a bit far, if they can have first production done by late June they should get a decent shipment away by August. Their expected full run rate is close to 20kt/mth so even at 40% average throughput over 6 weeks that gets them a 10kt shipment by early to mid August. I don't think that is unreasonable but I do agree first sales in Q2 seems unlikely.

    As I said I agree cashflow will be tight. Hopefully they do get a stage 2 prepayment or something of that nature but even worst case scenario that they do have to do a WC raise I would rather it at this end hopefully at 40+ then at the other end when we were sub 20c.

    @Cashmeoutside I agree with your $10m calc. Wouldn't mind knowing how that turned into $15m either.
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