I'm sure TO is also concerned about containing costs where possible. Important to also acknowledge that a significant component of recent increase in funding requirement is due to the company wanting to seize the opportunity to make additional money whilst market conditions are great.
LTR have brought forward production, increasing tonnes from 2.5 to 3.0Mtpa resulting in increased SC6 production from 500 to 600ktpa early in the project life. They also seek to monetise extra tonnes, in the form of DSO, that was formerly scrap.
Whilst LTR have been hit the same cost pressures affecting all other companies in the sector, they are continuing to think and be innovative to maximise returns to shareholders.
The extra SC6 production will bring forward earnings and will be reflected in our share price earlier than before. The DSO alone will more than cover the extra funding requirement. Sometimes you need to spend money to make money. I'm backing them in.
All the best. G
LTR Price at posting:
$1.41 Sentiment: Buy Disclosure: Held
(20min delay)