LMG 6.98% 4.6¢ latrobe magnesium limited

Dezz,They are to produce minimum of 1000 tonnes of Mg/ year so...

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    Dezz,
    They are to produce minimum of 1000 tonnes of Mg/ year so that's about 1700 tonnes of MgO that eventually would be reduced to Mg ingots. That equates to about 195kg of MgO/hr.

    I think their announcement was premature - they are not in production mode, they are still in commissioning mode. When they are filling one ton bags, that's when they are in production mode.

    They could have titled it as "Ore Commissioning Completed" evidenced by the 200kg of MgO and the next step is to move to production filling one ton bags. As Rick had suggested a line of one ton bags with purity and extraction efficiency would have had a much greater impact and would have been much more attractive to high-end investors thus pushing up the share price further for a decent capital raise. I hope they didn't announce production early so they could move to a quick capital raise - that would be disasterous. The financial position of the company is a big unknown and will be interesting for the next quarter - they will be keen to include the CR in the quarterly and end of year financials.

    Anyway, it seems the plant components are doing what they are supposed to do which is good news, now we just need to have them work on optimising the operating parameters for volume and quality.


 
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