Quarterly predictions, page-955

And therein lies the problem as the market is telling us that they think the norm will become 1c FF six monthly dividends.
They really need to start cutting costs aggressively, if that is at all possible, as their mining and processing costs rose to $94.75mil last quarter(to Mar24) whereas a year earlier it was $84.20mil for the quarter(to Mar23).
They will have a good current quarter when you look at unit prices received compared to Q1 but unfortunately it probably won't be reflected in any meaningful increase in their cash balance at 30Jun24. And after they take the decision to proceed with the development with the North Pit underground development later this year, then you'll find that their cash balance will slowly decrease every quarter until it's completed in 2029/30.
They have stated that they will pay consistent, sustainable dividends during this period but as an investor I wouldn't be counting on any more than the above mentioned dividend rate.
And then finally you have to have a view on the future iron ore price.
I'm not a shareholder currently and not tempted to be a buyer at the current price.
My cashflow schedules for Q1 & Q2 attached with Q2 estimates being subject to change before final estimates: