Can anyone estimate what PAN cash position would be right now?Any chance of a capital raise soon? Below is my attempt:
Based on their last quarterly they had ca $25m at end Sept. But only due to the debt drawdown in Sept of $15m USD (=ca $22m AUD). So excluding this debt they would have been almost broke during September!
PAN are expected to make ‘about 11 shipments in FY 22.’ (Victor said this in his Diggers and Dealers speech in 1 Aug 22). There was no shipment during September. So apart from this there should be one shipment per month. Already a shipment gone in Oct and late Nov.
Each shipment is typically 10kt of concentrate at ca 7% Ni. Each shipment appears to yield payment of $20 - $30m AUD.
Entropylord mentioned overall costs are about $200m per annum (sounds right to me : I estimate $175pm based on their guidance , ie C1 + development capital + growth capital). 200m / 12 = $17m per month.
So I guess they are probably cash flow positive by ca 5 to 10 million per month. Cast balance might be $30-35m at the moment?
Cheers
PAN Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
