Point I was making was that taking out operating costs per tonne stated in the DFS ( plus adjustment of +20% I added ), there should be a substantial amount of cash coming in this year.
Figures I provided were earnings before interest, tax, deductions, amortisation. Not profit. There should be no tax yet because of accumulated losses.
$23.4M ( production earnings ) + $28M ( placement and SPP ) + $9M cash in bank = $60.4M.
Should be enough to cover outgoings.
I’m thinking could leave them with $10M+ leftover this quarter.
After that they need to cover about $6M per quarter in interest.
Assuming they sort out the remaining significant issues this quarter they should theoretically generate $30M to $35M per quarter from Q2 ( after production costs ). Adequate to cover interest and start making significant reductions to debt balance.
Pay off some debt in Q2, Q3, Q4 CY2019 and I think they will be in a good position to source more competitive and alternative finance before the current funding package matures.
Ann: Altura To Undertake A$28 Million Financing Package, page-204
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