Beaten down and cashed up, page-42

Just remember they had a cash pile of $24m in June 2021 so they aren’t really making a lot of money!

They have been great at getting the product out of the ground and into stockpiles at the port or on site but sales are the big issue and have been for the best part of 9 months. Yes increasing local BSM sales will help as they avoid the variable shipping costs but increased fuel costs can’t be helping. Hopefully sales are increasing and they have some good news.

I have been hoping for about a 0.5c dividend which just over 1.1bn SOI would cost them about $5.5m. Might be a bit optimistic on my part as I fear they won’t have made that much this quarter. Also a 0.5c dividend would equate to a 20% return which may be pushing the friendship.