It would be helpful if the quarterly actually stated a cashflow and summary balance sheet even if unaudited rather than bits and pieces and we have to guess. My number is probably optimistic as it really depends on what is included in their definition og accruals.
I agree that the PHES, credits and inventory pretty much underwrites the current share price and everything else is upside - as long as there is no more bad news!
Ann: Activity Report for Quarter Ended 30 September 2019, page-15
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