Ann: Operations Update - Record Month of Production, page-21

Apologies, premature post without reading announcement in detail. Stand by my comments re recoveries, 62% will make shipped product quite expensive to produce. Still should see some profit this quarter at least, maybe this is the reason for urgency on stage 2 to force costs per tonne down even with sub par recovery rates. No detail on why recoveries are poor or the strategy (or costs) needed to improve them.

We need to get JRO and Lionergy off the register and JV with Ganfeng otherwise it’s going to be a long hard grind to escape the debt millstone.