Ann: Quarterly Cashflow Report, page-79

At least one I saw.


At the other poster...
'Dire times ahead, with AJM hanging on by it's fingernails. The COO has resigned. And their off-take partners don't really care, because there is plenty more Lithium from other suppliers, including AJM's neighbour, with AJM out they can ramp up greater production and give themselves greater leverage.'

Such blatant scare-mongering dribble.

* There is a dozen wannabee lithium ASX companies out there, including your beloved BGS, that would give their left nut to be in AJM's shoes with lithium sentiment temporarily in the gutter resulting in no funding anywhere in sight.
* COO leaving means exactly zip.
* Pure conjecture on the offtake partners (all stage 1 and part of stage 2 already offtaked).
* Pure nonsense on the 'plenty more lithium from other supplies'. Its about locking in long term supply which is going to be strained in the near future.
* Financially, being conservative on the end result of the ramp up....
- AU$170 mil at 15% interest = $25 mil/y in interest
- Selling at $1000/t (US$700) ($722 was offtake partner average)
- Costs $550/t costs ($422/t in the DFS)
- Results in a margin of about $450/t margin.
- 180kt/y (220kt/y in DFS) @ AU$450/t = $80 mil/y which easily covers debt.
- This also ignores that once AJM is near nameplate after sorting out its fines, refinancing will be at top agenda for management. Additionally, its my belief that production eventually will be higher and costs will be lower than the above numbers in addition to the bottomed out carbonate prices improving in the future.

I've lost count of the conspiracy nonsense flung at AJM. AJM wasn't being paid.... AJM quality is being rejected and ships are 'stranded'... AJM offtake will take the company down with themselves. Now a few more to add to the fun list. In the mean time, ramp up continues.