Ann: Full Year Statutory Accounts, page-7

Lots of Full year accounts to pour over right now and so little time it always seems to do it in.

So like most I have literally only ' skimmed ' through the Sayona 2023 final accounts so far. And especially so on the eve of my Grand Final footy preparations for tomorrow.

In my skimming though , there was one figure which stood out for me and that was the $48 million Management accounting figure for the 'Finished Goods ' number at 30th June 2023.

And the reason it stood out at first glance was was that I'd seem to remember that at the turn of the end of June into early July , they stated they had some approximate 32,000 tonnes of concentrate produced for first sales.

So if we assume this ' Finished Goods ' number to be representative of the spodumene produced to that point ......, which it should - Then we indeed have some numbers from these accounts which we can start to make sense of in terms of the costs of production.

So if it was 32,000 tonnes , it would imply a cost per tonne of A$1,500 and at 31,000 it would be A$1,548 cost per tonne concentrate.

Even at say 37,000 or 38,000 ......or even 42,000 , we would be looking at figures of A$1,297 , A$1,263 , and A$1,143 respectfully.

So at any of those sorts of numbers and we will definitely be battling uphill on our potential spot sales margins when you add in the potential downside of provisions for higher shipping and transit costs to China.

So granted there is a lot to digest here with these accounts and the fact we know we are in ramp up to nameplate , the sooner we hit these higher volumes and the recoveries that go with it , the better its going to be .

And at the same time , one has to wonder I guess how much costs they have loaded into these FIRST few shipments.

Time will tell I guess . Hope you all enjoy the weekend of Footy Festivities wherever you are.