It took me a bit of time to work through this report. In a nutshell I think they have misrepresented ahead of the capital raising. Stated production at 240kt pa and 60kt in Q1. Maintained production guidance during the cyclone. Only for everyone to see in the quarterly that they fell very short without explanation. The explanation could be anything from lacking working capital for ramp up to issues with ramp up.
I am pissed off.
Stock will be in the dog house until they come clean and prove they can be trusted.
Mencels contract is up for renewal in the next few months so we'll see what happens.
@LD99 you have been vindicated in respect of your caution. Not in respect of getting into word fights and wasting forum space.
CXM Price at posting:
5.1¢ Sentiment: None Disclosure: Held
