re: Ann: Galaxy Secures Spodumene Supply Agre... Guys, let's just admit it, Mt Cattlin is a mistake from the beginning.
Whether or not this announcement comes out, Mt Cattlin is a cash burner and has zero value.
If someone for their pride and salary package decided to continue burning money through Mt Cattlin, it will not only write off the whole value of the mine but also the whole value of Jiangsu Plant, because Jiangsu will never be profitable.
Just take a look at the Seymour report release last year. Mt Cattlin was operating at a horrific cost of $600 per ton before being closed.
Whatever the market reaction is today, the reality is starting from now we are truly in a position to see positive cashflow and black in the P&L bottom line.
The annual report would not look pretty but market never value a company based on book value anyway. Future cashflow and profitability are the keys.
re: Ann: Galaxy Secures Spodumene Supply Agre... Guys, let's...
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