I don't think it's them doing the development, it's entirely managed by the contractor, but you're right, it does look like it from their announcements.
So it should be about $150k per month gross, assuming they get the full 50kt per month going forward, and $240k if they ramp up to 80kt. It doesn't sound like a lot but it's a very small company with extremely low operating costs and a market cap of only $7M, which makes it a gross income of around 3.5c/share compared to current SP of 8c.
I think the biggest problem is what's going to be left after they pay their directors' fees. Anyone know where these costs are listed in the quarterly, are they under administration? Because that's only $550k per year for CES at current rates which sounds way too low.
AQJ Price at posting:
8.1¢ Sentiment: Hold Disclosure: Held
