"Material payments were received in early January rather than in December due to the Christmas/New Year period." BGL revenue $32.2M vs cash receipts $21.2M. That implies the company actually has $11M more that came in the coffers this month.
"cash outflows at Woodlawn will significantly decrease moving into calendar year 2024." - that suggests that the company could be cashflow positive March quarter onwards.
"Progress is being made on the potential of a third mining contract also in WA" + "stated strategy of securing two to three contracts" = BGL + Mt Marion + 3rd WA. This could indicate that any deal that is planned with MAC is probably not just a mining contract? M&A is high on the agenda for MAC which is slated to list on the ASX 20-Feb. Mick was involved in the SS DFS and WL acquisition before he resigned. Re-cap as announced 10-Feb 2023:
"his resignation would remove the potential for conflicts of interest in the event that Develop and MAC pursued possible transactions involving both companies."
"there may be potential for the two companies to establish a mutually beneficial arrangement."
As always, all pure speculation until it happens! Glad to have picked up some cheapies last week!
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