Spot on. There’s a reason why the yen is still Japan’s unit of...

Spot on. There’s a reason why the yen is still Japan’s unit of currency. We must remember that in our context of the dollar, the yen is a penny. One cent.

It demonstrates a very careful and diligent allocation of what we might call literally every penny & is something I’ve found interesting and quite telling ( as well as rewarding ), over the years.

To the announcement-

Things I noticed at first glance, ( easy to find as most are on page 1, excluding the cash position note ) :

Strong cash position of AU$19.5 million, funding us well in to next year ( 7 quarters cash at hand ). Underlining our history of financial prudence over time.
Positive language concerning negotiations, that we are moving toward building a team of people outside the company to move things forward, in the ’DFS bids are currently being reviewed’ point.
Potential expansion of the plant to a 4Mt per annum operation ( if we follow the 1~% output that would put us at 40,000~ tonnes of production, up from the - from memory- 32,000~ tonnes per annum? ).

That sounds a lot like it came from our negotiation partners, Sumitomo Metal Mining and Mitsubishi, ‘if we are spending we might as well spend as much as possible up front so as to improve the overall economics of the project because we want surety of supply moving and most importantly…. the resource can handle it!’

As always a really detailed and informative document, well done to the team & of course our potential partners who would have given some input as to what to focus on.

I really urge readers of this post to take their time and read the announcement in full as these have, over time, really improved my basic understanding of how these things work & the basics really do help when considering investments.