A mixed bag of news in the just released December Quarterly Activities Report IMO.
On one hand still not cashflow positive, no material progress resolving the oversize issue, still have DMU mechanical issues from time to time. On the other, record concentrate production, more customers signed up.
To me the two big key prositives here are: 1. There is a methodical integrated portfolio of business improvement initiatives that spans, mining, refining, staffing and sales and marketing that should yield profitable outcomes in the medium term; and 2. We retain the (financial) support of our JV Partner to maintain solvency in the interim.
Despite shareholders approving a 10% placement facility at the recent AGM it is in no one's best interest to raise share capital at the current shareprice around 15 cents.
-DGT
SFX Price at posting:
15.0¢ Sentiment: Hold Disclosure: Held
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