I for once am not as pessimistic as Blister, but he is right when he says credit raise imminent.
It is also fanciful to expect prodution at Granville to be anywhere near what previously promised, as they have only ever sold 5 tonne during G1. But i can see them getting maybe 10 or 20 tonne of concentrate together by the end of the quarter. Did anyone ever find out what happened to that mysterious April shipment that generated zero income. I thought as it was classed as a part shipment that perhaps under the offtake agreement ANW needed to supply a full 20t shipment before payment is forthcoming, who knows?
So 20t at 60% equals 12 t x $26000au = $312000 revenue which should pay Granville bills but wont go along way towards funding T1 or paying Lind. So the question is how best to put to work the limited funds. I would suggest it prudent to focus solely on Granville so that they have a solid and predictable revenue stream.
Perhaps they could offer a different incentive to the contractor at Taronga to commence mining under a JV senario, offering a % of the resource for their hard work, just a thought.
Christopher
ANW Price at posting:
0.7¢ Sentiment: Hold Disclosure: Held
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