Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-4

Well forward momentum - at last. We have cleared the EPA hurdle and Final Approval expected in Q2of24. - but I hate those additional words (subject to any appeals).
2023 was always going to be a crap year and frankly 2024, whilst showing more prospects, will be more of a repeat year. Why?
Well, by the time we get the FA which no doubt will have some slight delay, and then tool up and man up (not going to be an easy job in this market); then to trial theory of the Atlas strategy in the real world and make adjustments accordingly, we will be lucky to get a solid quarter of production underway.

So let's follow the cash in 2023. Effectively we started the year with $53.5m in the bank.
We added another $5.5m from operations, spent $11.3m on plant and other project enhancements + $1m on divs paid to end up with a cash balance of $46.2m csh after adjusting foir negative exchange ratesif $0.5m)

On the presumption that the entirety of the existing capital is required to get Atlas fully operational and through its initial teething problems that leaves bugger all working capital. Not necessarily a HUGE probem but oen which might require a capital raise or use of expensive WC debt facilities. I think I'd like to hear Patricks views on this.