I thought business was booming? Yet they closed one of their Melbourne recycling sites. Presumably it was the one that was not licensed.
LOL
At least the cash burn rate is starting to drop. Funny though that even with sales of MMD + handouts from the battery recycling scheme, the recycling division has yet to reach cash flow neutral. This is during a lithium boom when prices are high.
Perhaps that "hand sorting" followed by "shred'n'burn" process is not overly cheap compared to other companies.
Going to be hard to scale up.....when they are actively closing sites.
oh dear!
Ann: Preliminary Final Report - Appendix 4E, page-3
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