We should not be missing anything if MMI would keep us updated. Obviously a poor start to the year but no updates on why. All we know is the larger barges were introduced last month so we have to make assumptions ourselves which is not good. I see the probable issues are wetter bauxite and fowling of the barge loading facility, soft and moist pit conditions where they are mining and a mining fleet that is still waiting for the 3 trailer sets. The critical thing at present is cash flow and generally the restricted cash is not available or can be borrowed against as it is related to environmental bonds for rehabilitation. MMI would have to borrow or issue capital shortly in my opinion.
MMI Price at posting:
14.5¢ Sentiment: Hold Disclosure: Held
