5m was spent on effecting the shutdown including redundancy payments to put food in kids stomachs
11m was spent on Stage 2 long lead items and unspecified Stage 1 CapEx
10m were the normal quarter admin and interest
Balance was increase in inventories and pay down of Trade Creditors and Leases
First 30% Tantalum contract signed after end of quarter
They said months ago that planned startup would be mid October to process mined ore stores. Although in the quarterly they mentioned some specific mining in the Dec19 quarter and then hopefully full mining restart in Q3FY20.
AJM were in a worse situation than us. Two weeks ago they announced successful processing (they started before us). They effectively mine the same resource as us. If they can succeed, why can't we?
Next quarter:
10m for the normal quarter admin and interest
7m Sept sales received
? Tantalum sales received
? inventory reduction
? Stage 2 costs
Next quarter may well show cash flow positive but for Stage 2 expansion costs.
Who will feed the children? Who will feed the children? No cost reduction. No stated production resumption? Mammoth balls up. Spod prices will continue to fall contrary to ALL expert opinion. Next months BIG loss. SURVIVAL mode. Rosy complexions and blinkered as Melb Cup horses. Chernobyl after the nuclear meltdown. Who will feed the children?
FFS get a grip. Hyperbole much? Why don't you sell then???
PLS Price at posting:
33.8¢ Sentiment: Buy Disclosure: Held
(20min delay)