The market did appreciate our announcement today, as most of us holders did as well.
It confirms to many of us what we thought all along....that we have actually been tracking quite well for a junior producer, albeit bound and trapped in an unfavourable market.
And It calms the market and will gets the monkey off our back, about concerns the market held.
- Cash on hand a very healthy $158million
- Our cash burn has slowed
- We will NOT be going into C&M.
- Production numbers continue to improve as we head toward nameplate, of which we have had production days hitting those numbers
- It would also negate any merger fears with PLL
- Shipments of product continue
- Major capex projects and expenditure nearly complete
- Exploration projects/expenditure complete...with upside assays pending
And with a rising and favourable spodumene and hydroxide/carbonate price, recoveries improving, and cash burn and expenditure slowing, the market will be re-evaluating our numbers and MC.
So, I suspect tomorrow when the market has time to fully digest this, the SP will be moving upward again, as it did post announcement.
It signals to the market that we will NOT be following the CXO route, are starting to stand on our own 2 feet.
We will make it through this downturn...weather the storm....and we are slowly but surely growing stronger.
Shorts began entering again late last week and early this week, punting on a sub standard report-which this is not.
Many may have to exit tomorrow, when the ASX rebalance and ejection from the 200 finally takes effect.
They have been pushing this to the death knock to try and keep it down, not willing to budge a pip.
They have had sooooo many 'get out of jail free cards'....many of us LTH's have seen it time and time again.
But tomorrow, may just be the reckoning for the shorts we have all been waiting for.
Let's hope so!
Good luck everyone.
(20min delay)