Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-142

This is from page 9 of the Quarterly Report:

• net receipts from customers of $29.5 million from the sale of spodumene concentrate, which included customer
repayments of $13.6 million for Quotational Period adjustments relating to a prior quarter shipment;

Now revenue for the quarter was $58M from selling 58,055dmt @ $999/dmt, but if I understand it correctly only $29.5M of that $58M has been paid to SYAQ. If that is correct then $28.5M is still owed to SYAQ, of which $21.4M (75%) would be SYA's. Adding that to the $99M cash balance would effectively mean SYA's cash balance would be $120M at the end of the quarter, meaning they burnt $38M for the quarter instead of $59M. Still a lot to burn, but not quite as bad. That $38M burnt would be from $16M capex & $22M sales loss (40,439 x $537/dmt). If I am incorrect with anything here then please anyone feel free to point it out.