Quarter not too bad - especially with 420hrs downtime on the plant (I assume 4,200hrs is a typo). Inventory is carried on the books at cost too - so one could imply the +$7.8m increase in inventory book value is more like double that when it comes to cash realisation (if you assume cost $20k/t and realisation $40k/t). There's also the $4m one-off contribution to NICO and $17m in capex - which is elevated due to the expansion activities. So 'normalising' you may get to a A$45m+ cash gen type number with grades and prices rising.
The one thing of concern is the commentary around delays to the expansion, might just need to get some clarity on this part and what sort of flow on impacts this may have.
MLX Price at posting:
48.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)