Aah this is good to see.Cash is king and the king is cash and...

Aah this is good to see.

• Cash is king and the king is cash and cash is being generated
• Cost of production covered by sales, despite prices being 'the price of these trial shipments reflected the benchmark price at the time of signing up as offtake partners' so half (?)of current prices. Double that for todays prices.....
• 19,157 tons shipped via Townsville with >35% shipments in March Q (26,000t) then a further >70% shipments in June Q (45,000t)
• Feedrates tested at 120tph! 'Minimal attritioning', steady state 95tph, design yields achieved at good grade which at 34.5% is exceptional. Oath! Like reading a this-is-how-you-do-it processing manual.
• 37,000t closing stockpile ore, 16,087 crushed ore, 10,558 tons on the drying pads ready to roll to Townsville end December so they've already mined and produced almost half of Q1 sales target with the full volume in stocks ready for treatment. Between that 37,000t and 16,000t (at 75% yield) and 10,558t on the drying pad at $300/t there's $21 Million in revenue lying around end December .
• "Excess production capacity beyond 625,000t' off the smell of an oily rag, $31 million capex is peanuts

What's not to like. They're having a red hot go, I would expect to see their costs will be coming down as their volume ramps up too, and as they get a true handle on their operations and the various levers to tweak.

I wonder what its costing them to transport all this stuff from out Woop Woop to Townsville? There'd be trucking and rail companies lined up with their best ties on, licking their chops with glee and applying the pineapples I reckon. You get a sense of that in their comment that 'The future Stage 2 upgrade will be focused on investment in a bulk logistic solution to lower production costs".

Anyrate, they'll build up some cash and reserves to buy/accumulate/explore for other phosphate players or do other things, be good to see how they go.

Good work and good luck to the Centrex team. I will keep accumulating, this is a great punt with a solid base and prospects.