sorry to be the cynical one but this Ann doesn’t have much to...

sorry to be the cynical one but this Ann doesn’t have much to excite. Production up marginally but still a way below nameplate, sales tracking to 38,000 tonnes with similar pricing. $300ish margin per tonne and still looking relatively tight for finances into next quarter. Refinancing will be a big one but we’re still a long way from being able to put a dent in the debt pile and face more dilution or debt to fund stage 2a. Indeed saying we’re in a position to refinance is a long way from actually doing it and how much better are the terms likely to be? Definitely feels like lots of positioning by deep pockets whilst the sector simmers, but I’m happy to stay on the sidelines for now until the risk of more dilution abates or until concrete stepwise progress occurs.