Ann: Quarterly Activities Report - March 2025, page-20

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Norbeto

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29/04/25

09:12

Post #: 78834355
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Originally posted by Whisky49: ↑

it appears the subject of historic cash burn has been raised which is very misleading. The only cash burn of any relevance is burn going forward now that flow through spending is now finished ( $7m was the last payment ) and merger funding of around $5m per quarter finishes likely sometime in the next quarter. Capex for getting NAL to this point is finished as it is for exploration .
That leaves cash burn going forward related to production costs vs spod price/ exchange rates, sustaining costs and any costs related to resource upgrades / PFS's untill any decision on expansion at NAL is made.

Sustaining costs are likely to remain around the $3-5m each quarter IMO with production costs shortfall harder to put a figure on as its tied to the price of spodumene, but costs themselves should be around $A1100t this quarter and have a chance to go lower over time.

So we will just have to wait and see what cash burn is on a more normalised basis but it has no connection to historic burn. The reality is untill a company makes a profit there will always be cash burn and that shouldn't come as a supprise to anyone.

At completion of the merger the joint cash position was expected to be around $153m with another $69m expected to be tipped in, that gives quite a bit of leeway.

Cheers Whisky

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Plus an undecided amount via shareholder raising TBC

SYA Price at posting: 2.0¢ Sentiment: Buy Disclosure: Held
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Ann: Quarterly Activities Report - March 2025, page-20

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