all this is predicated on market prices staying high (still waiting on an explanation of why the achieved prices =/= market prices now that trial shipments are supposedly over) and your cost forecasts being right. forecasts in their nature are in the future so of course there will be varying opinions. you can say yours are forecasts based on things the company puts out so are grounded in fact, i can say the company releases info that is a bit rubbish so cant be taken as fact (like that mid-november financing). plus, commodity prices move in cycles (as lithium is demonstrating), if CXM doesn't make it to scale and the commodity price moves against them they are broke. they actually do need to be at 1.5 to have sustainable operations and weather any cycles. i agree that they shouldn't have tied their destiny to debt funding 1.5. they should have raised when they were >15c they could have self funded the whole expansion from a mix of equity and working cap debt. i would have rather taken the dilution to be well into stage 1.5 construction and on the path to profitability. the fact they didn't says management is asleep or looking after other interests (option holder #1 for example).
also how does a $28-40M capex forecast in the September quarterly report suddenly get managed down to $9M+6M the next month. seems super unrealistic to me when material and labour costs have still been rising since the period the initial capex forecast was made. time will tell really about how factual the company's information is.
CXM Price at posting:
7.3¢ Sentiment: Hold Disclosure: Held
(20min delay)