OUCH, not a good look. Frankly an utter disaster as I expected. When E25 has FOB cost of A$201/tonne or US$4.70/dmtu then its all over for E25.
At least E25 now reports just how BAD the production and trucking costs are. A cost of US$1.59/dmtu just to truck the ore. OUCH.
Unless manganese ore is at US$6.50/dmtu and above then E25 will continue to bled money.
But on the bright side, E25 will continue to spruik Mn battery materials and continue to suck in shareholder funds. Talk about a greenie sucker stock. E25 is a disaster just waiting to unravel.
(20min delay)