$15 asp, page-16

"Again, I have no idea what they sold last quarter" - why do you keep saying that? The company have told us what they sold last quarter - 1,970t. And invoiced $29.8m for those sales. Gross. Hopefully that "Gross" doesn't include GST/VAT (it shouldn't) but it would include transport costs - anyway, we can say with certainty that the ASP didn't exceed AUD15.13/kg.

March positive cash flow is meaningless. If Revenue - Costs - CAPEX is +ve that would be a brilliant achievement, but it ain't cash flow. If Receipts - Payments - CAPEX is +ve based on past performance all that implies is that they've been window dressing at the end of Feb and end of March to make March +ve. And means AL has little comprehension of accounting terms. Which might even mean she wouldn't know what cash flow +ve means ......

Two mysteries from the quarterly. They say the kilns {plural} have been working at greater than design rates and in line with requirements. A blunt contradiction. The SX only required one kiln to work at two thirds design rate for the whole quarter's output. That contradiction is compounded with the statement that the concentrator is still only working on a campaign basis - stocks of concentrate were low at December, certainly to feed kilns running at above design would require a bit more than just campaign basis!