Thanks Cashmeoutside,
Had not had a chance to look at waterfall chart, most interesting.
From a cash point of view MLX has $18m at the starting point at beginning of this quarter. Around $31m coming in this month. Costs for this shipment will be minor. Most costs getting to port already taken care of. Loading ship very inexpensive. Not sure if they are CIF or FOB but not major either way. MLX would have taken TC/RC into consideration when nominating $31m receivable. Renison should kick in $10m as it can run down stock some more and production forecast to increase.
So cash of 18 plus 31 plus 10 = $59m less cash cost of operations at Nifty. MLX will also be trying to get another Nifty shipment in before this quarter end which could add another $30 m to cash holdings. Cash on hand could look very different at the end of the next quarter. I think cash plus working capital is a better measure.
Despite what people on this forum say there will not be nil copper conc. stocks on hand at port when the early shipment in April goes. I was in shipping at a major miner for a few years and you do not schedule a vessel till concentrate is at port and ships can then take a month or so to arrive.
Having said all that MLX can't tolerate Nifty cash burn on an indefinite basis. However, with 6 additional stopes available for production this quarter things should get better???? I suppose it depends on how much more Nifty development capital it needs to get things right. At 6000tpq of copper the operation should be good.
I suppose the good thing is MLX is not in debt.
Appreciate your posts.
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