At first glance, the numbers look good. But don't they always? The devil is in the detail.
The ramp-up to first production seems very quick; implausible for mine.
As for DAPR, who is buying 200kt at mine gate? I understand they asked the traders about product suitability and indicative pricing but the volume question will not be answered until there are BOA. Same applies to the other product lines.
It is still a wait and see for me. AEV will need a CR within 2 weeks just to keep the lights on. Then they will need to raise funds for DSO CapEx and peak funding requirements until cash flow positive. And then there will be the dilution and perhaps some cash for ALEEES partnership.
AEV Price at posting:
1.1¢ Sentiment: None Disclosure: Not Held
