Ann: ABX 2018 Annual Report, page-2

I find the report depressing when I see spelled out in black and white details the pattern of sales over the past few years. Fertilser sales are hardly a success story while cement bauxite is better but still rather spasmodic. It would be interesting to learn if the big deliveries have been to the same customer or to different customers. Repeat orders of 30KT quantities would indicate a successful product while sales to different customers would indicate either that ABX pricing is on the wrong side or the earlier customers did not like the product and so have not repeated their orders.
Low product revenue for the year relects the paucity of sales while cash and receivables less current liabilities are barely enough to keep going for another year without a CR, depending on the level of development activity and sales expenses (any scaling up of the ALCORE plant may be a different matter but I do not expect that to happen without some off-take agreements).
I will hang in for a while longer yet and keep hoping but am uncertain as to how long I want to continue leaving my funds parked in the company.