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23.0¢ syrah resources limited

Ann: March Quarterly Activities Presentation, page-72

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skorpian

814 Posts.

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01/05/19

14:10

Post #: 38353909
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Originally posted by DoubleDown!: ↑

I wondered the exact same thing in a previous post I made, it simply doesn't add up.

From shipment to pay day takes 1 month. So March production get taken out (19kt) and December production gets added in. Now we don't know exactly what December was in terms of production but the quarter was 37k. So presuming a ramp up over that time December was probably 14kt.

So receipts should be 14+(48-19)=43kt x $469 =$20m. Invoices were $22.5m

Or to work it backwards $13.83m/469 = 29.4kt was paid for. But 48kt was produced and invoiced.

According to the last two quarterlies 18kt was awaiting shipping at the end of December and 20kt end of March. So the excess is not sitting on a dock.

So where is it? It could be that creditors are growing and the 30 day shipment to payment statement in the 4C is just not true. Or maybe there is some strange offset still going on.

But if sales revenue is actually $22.5m then Syrah is actually close to break even as production costs are about the same ($22.4m from the 4C +- changes in creditors and book adjustments).

Something is not right.

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Didnt some end up going to the BAM factory for spherical

SYR Price at posting: $1.08 Sentiment: Hold Disclosure: Held
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