Macro certainly not great and risk off. With that comes the AUD selling off which provides some buffer, tin prices still ~A$56k/t. Should see the last of the Area5 expansion works complete early in Q3 (ventilation, new paste plant etc) and the juicy grades hit back end of the year.. cash generation should be great as a result.
It does beg the question that with likely north of A$120m cash at the end of the quarter should the company not be looking at a buyback given capex completion and the cash flow the ops will be spinning off. Buyback 10% of the float (90m shares) will only cost you $54m today leaving a fat cash stack remaining.
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