Sir, all the problem lies in huge debt + 9 month operation windows + weather GOd mood and bauxite price movements and lastly on FX movement + impurities in bauxite.
if mmi pays off most of this quarter cashflow for the debt to reduce liability then different storey.. but will see what happens.
since last month high temperature bauxite price gone down more then 10% and that will have impact in following quarter not the current one (as MMI said they locked higher price but I doubt. But will see in report in 2 - 3 week time)
analyst report don't allow for weather disruption and downward trending bauxite price beyond certain amount...and that is the case for all mines not just MMI.
i don't buy anything written in this report particularly if they are from small Australian brokers !!!
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