Solid progress on main metrics.
Nothing really unexpected.
Nice bump in recovery to 49%
Attrition cells coming online August
Update to vanadium scoping study in Q4
COO review (new guy in town) resulted in 2018 production target revised to 135kt to 145kt from 160kt tonnes and C1 cash operating costs forecast US$430/t to US$450/t (previously US$400/t) by the end of 2018
Put it together and it seems likely they are going to need to raise some capital to be on the safe side. Put it off or not? Probably put it off.
Moving sentiment to Hold from Buy, but happy to hold.
Ann: June Quarterly Activities Presentation, page-2
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Last
21.5¢ |
Change
-0.010(4.44%) |
Mkt cap ! $222.5M | |||
| Open | High | Low | Value | Volume |
| 23.0¢ | 23.0¢ | 21.5¢ | $1.058M | 4.817M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 20 | 643796 | 21.0¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 22.0¢ | 173846 | 5 |
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| SYR (ASX) Chart |