AJM Reporting is Misleading, page-15

Hi Mick, I think you will find there are two shipments that they didn't receive the money for in Sept. One of these was a September shipment the other was an October shipment. Think the September shipment was 7913T , so its included in the tonnage shipped but not in the cash receipts.

I got the 7913t figure from the below 19500 (being two shipments received after September) minus 11587t being shipment not included in the quarterly sales. So that leave 7913t that's in the sales tonnages for Sept but not in the cash receipts for the quarter.



"Financial Commentary
Receipts from spodumene sales during the September 2019 quarter were $18.5 million and excludes proceeds from two shipments that completed loading in late September/early October (totalling 19,500 wmt) that were received in early October 2019. "

"In the three months to September 2019, Altura shipped three cargoes totalling 25,601 dry metric tonnes. A further shipment totalling 11,587 dmt commenced loading during September and sailed from Port Hedland on 2 October 2019."

That's the problem with cashflow reports, have to keep adjusting for timing, there may have been a similar adjustment to last quarter figures.

Anyway, in general they seem to be providing a lot better information and no doubt holders of other lithium stocks will be happy to see prices stabilised for the quarter, in line with last quarter


All in my humble opinion though based on my understanding of the reports

Thanks