Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-8

All positive? They mined less tonnes in Q1 2024 than they did in Q1 2023 which was the first full quarter of operation. 33kt shipped + including the 14kt shipped in April doesn't cover costs.

There's no mention of the MSP because they are selling all HMC that is produced. You can't operate an MSP without regular feed. Now they have to release financials you can see they are getting about $700/t for the HMC. Remember when they used to announce shipment values when they were getting $1000-1200/t? Funny how they stopped doing that. They need a couple of months of runway to transition from selling HMC to selling final products which they don't have because they already burned through their commissioning capital and CR proceeds.

They have $5m of NAIF super senior and $10m of bond facility super senior left so they will probably just draw that down in Q2 to keep the cash at end of period in the black.