It would have, but then they would have to spend cash to build it up again. I don’t believe they have too much stockpiled for their operation and think they need a healthy $100m of working capital to run the show efficiently... the fact they are highlighting the 2 April shipment shows how dire the cash situation is.. along with liquidating some of their investments in BRN and NES recently. All of this despite the large $50m raised at 65cps a little over 6 months ago - which shows the rate of cash burn.
This is why the shorters are here and why the SP is where it is... the punt is they don’t need to top up on the $17m cash through a dilutive CR and can turn the ship around as capex decreases (equipment replacements completed at Nifty and ore sorter installed at Renison) and Renison output and margin increases.
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