Hi Sparecash,
Yes US$4.2mil is the DFS forecast QTR operating costs.
here is my calculation from the March QTR report, I believe the OPEX costs are covered by Jinpeng up until the time that the plant is handed over. Which will save WKT from paying these costs.
WKT has elected to pay Jinpeng's final payment in shares, and the US$5mil appears to be required for the 2 QTR of debt servicing.
If we take out those items in the above calculation as Jinpeng is yet to hand over the plant, and we can assume the US$5mil is back up funding is the 2 QTR of cash back as required by the loan.
WKT's $4.15mil at the end of the March QTR, would have the following costs
Gemcorps interest $1.467 mil
Corporate costs $675k
Remaining funds = 2mil
We don't know if WKT has any additional costs associated with the construction of the mine, or how much of the OPEX they are covering, we have seen little to no images of the mining and from the little information we have from the company we don't know if any graphite sales occurred during the current QTR.
As Stirer stated above "No one expected the plant to be switched on and the production to meet DFS number or even break even during this period" it will be interesting to see how WKT will cover the OPEX once Jinpeng hands over the production facilities.
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