Finally stem the losses....good decision to close production but should have been made 6 months ago.
Going to be a very interesting 12-18 months. IF they can pull off both the expansion at Butcherbird and USA - this will be a 10 buck stock. It's really just the funding holding it back as E25 have already got willing buyers.
I wonder if OMH paid in advance for the latest (and final?) shipment. That will either stem the losses in Q2 or make Q3 look OK. Anyway good idea to shut production and get it to a stage where it can be profitable in the future.
Id drill and sell the lithium ground to assist with the cash position.
Ann: Element 25 Commences Butcherbird Stage 2 Expansion, page-9
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21.5¢ |
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Mkt cap ! $47.28M | |||
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