Actually he seemed quite confident of reaching nameplate by early 2022, which he stated would lead to operations becoming cash flow positive.
On the design of Stage 2, Justin said it was unlikely to be simply a duplication of the equipment on hand. I believe there would have to be some long lead time assets but the capital expenditure may not be to the same degree as Stage 1.
As I mentioned in an earlier post, they were operating at roughly 70% of nameplate, and on isolated days, Justin claimed they actually outperformed nameplate.
These reconfigurations they are implementing are expected to lead to greater up time and accordingly they feel nameplate isn't too far away.
Personally I feel nameplate is behind schedule, and targeted to be achieved in as little as 4 months. But we have limited understanding of the factors impacting day to day operations outside of the clay content and current log washer fault.
The key sensitivity other than shipping is volume. Despite your prior concerns about haulage costs Justin was not overly concerned by it. The dispersement of fixed costs and effiencies/economies of scale is what will drive profits from Stage 1 and ensuing Stage 2.
E25 Price at posting:
$1.14 Sentiment: Buy Disclosure: Held
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