Cash Balance, page-8

Following your comment I calculate with 50milliom in costs and an approx 20% lower ASP of $16/kg LYC needs to produce at least 3125 tons/qtr (or 12,500 tons/ PA) to become cash flow positive. It is improbable for this to be achieved without phase 2 up and running IMO.

If the costs can be reduced 10%- 20% by good management into the range of $40m- $45m then with an ASP of $16/kg production only needs to be 2,500 tons/qtr (or 10,000 tons/PA.) to become cash flow positive. This is probably achievable with phase 1 only IMO.....

If the ongoing LYC cost control measures directed by AL are significant the costs for the qtr should be significantly under $50m IMO and we have a possibility of becoming cash flow positive for the Dec quarter. but only if they are significant. If AL has done a great job as CEO then I expect a cash balance between $55m and $65m at Dec 31 but we will have to wait and see to be certain.