My expectations were based on the company presentations and...

My expectations were based on the company presentations and available information.
I have been investing in this company since 2020 with endless capital raising and complete destruction of capital.
People who only bought in the lows of 0.8 cents made lots of money but investors not.
I managed to get back almost AUD 160 K of my lost capital and happy for a small loss but I never been optimistic about the future of MMI like the last few months but broken promises evaporated every hope here.
they promise the next 2 Quarters will be OK but I have no confidence.
Now, their Ebtida margin is less than last year PCP despite higher sale price and higher production.
Ikemba has only improved shipping by shy 12 % despite all the money spent.
capital raising allocated AUD 6 m increased to AUD 21 m already spent. I am not sure how they'll pay the junior debt facility in Q3.
It will only take few days or week of bad weather or broken down machinery to wipe out any Ebitda margins in the next 2 Quarters and then capital raising.
from memory this company has few billion dollars in capital loss ( capital destruction )