SYAQ has no immediate need for cash and even if we do there is plenty in the kitty.
If the JV concentrates their efforts in filling PLL’s order first up, it should be clear air by about mid October, (assuming average output of 500 tpd between now and then).
By mid October NAL should have reached nameplate and for the remainder of the year be able to produce another 45,000 tonnes, worth about $AUD200 million if sold on the spot market.
As this will be in excess of OTA, the 50/50 provision should kick in.
If I have got it right, both parties should be very happy, (if not all the shareholders).
Ann: First Shipment to Launch NAL Concentrate Revenues, page-397
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