Ann: Quarterly activities report and quarterly cash flow, page-6

WOW must have been some exchange between the two main protagonists to bring on such a slashing of comments !!! Think sqe seems to have come out on top but there was a time zone advantage I'm guessing.
Anyway back to the facts and that's where it becomes interesting when you dissect this bed-time story:
"..Plant achieved its designed processing throughput in the June 2020 quarter..." so basis 3,000 tpa = 750 tonnes ?
" 80 tonnes LIB processed....23 tonnes MMD inventory..." so 28% recovery ?
" quarterly operations were impacted...."so again they continue operating without a Licence.
"trial with EV battery packs" - yes and while unlicenced. Wonder how those "two" suppliers would be keen to sign off any audit that asked about Regulatory obligations...?
"battery packs are expected to originate from south-east asia" - Really and again licenced to receive - no ? Permitted to export/import by both jurisdictions ?
"on 11 September 2020, applied for an EPA Work Permit due to expected growth...……...That is just an outright furphy and needs to be clearly understood by stock-holders. The operation has ALWAYS needed to be legally licenced. The EPA has publicly declared this and the Works Approval is just the beginning i.e. the Licence is subject to approval of the works permit. Timing - let's give it 6 months to flow through. So what happens during that time - continue to operate illegally ??
As for the fire stuff - keep in mind Fire Rescue gave them 60 days to COMPLY and all this feel good gear is coming into play after the BBQ charred to lamb chops.

So the bottom line is yes positive cash position which is nice but that's just that - there's the regulatory obligations hanging over them like a guillotine.