Ann: Annual Report to shareholders 2024, page-5

Finally got to this report. Here's my take on it:

Average realised price per tonne in FY2024 was AUD264 derived using revenue $30.651mln (Page 26) and volume 116,062t (Page 2).
This is likely lower now as per world bank pink sheet trend

Average cost of production per tonne ex freight in FY2024 was AUD161 using cost of sales ex freight $18.760mln (Page 37).
This is likely lower now due to ramp up.

Average cost of freight per tonne in FY2024 was AUD176 using freight line in cost of sales breakdown $20.426mln (Page 37).
It is likely that the minimum guarantee charge from Aurizon, about $5mln, is there already.

BUT who and how the f*k negotiated this robbery contract with Aurizon???? How was there a $5mln minimum guarantee charge when the company was already paying in excess of $120 to move each tonne???

Cash 2.5mln
Receivables <1mln
Inventory 13mln (based on average cost of production and freight, it would cost at least another $13mln to freight it to port)
Payables >20mln

I call a capital raising before they release quarterly or shortly thereafter.

Just f*ng pathetic really, if not outright criminal, how they misled investors.