What does that ship full tell us? * they will have plenty of empty containers to fill in June *10,099 tonnes of concentrate could contain 24% cu i.e. 2424 tonnes of cu. * 239t from feb 589t from march 719t from April which leaves 877t from May plus whatever didn't fit in the ship. * at current prices they could have started to make a small cash flow surplus from operations if they don't have to use up their hedging and can save untill the bank balance builds.. * they had $7.4m of cash at the end of march and Spent $9.5m on capex in Q4 2023 which dropped to $7.1m in Q1 2024. If it hasn't dropped further as expenditure shifts to production during the ramp up cash could be getting tight unless there is a couple of 100 tonnes sitting in containers at the port.
If they do need more cash and can't borrow a bit or get royalty deferral or? A small CR won't make much difference in the big scheme of whats coming up.
I read with interest that China is developing a recycling industry to recycle lithium batteries and they expect not to need and new raw battery materials by 2042.
Most of us old timers don't need to worry about what recycling will do to satisfying the demand for copper.
