Puzey’s sign on bonus (tonne of free scrip) was a farce but he does seem to be having some positive impact here, with the change in strategy at Maddington to focus on higher margin metals recycling and more discipline on costs. The numbers are still ugly but slowly getting better. And while the timing of this release is bad the quality of disclosures in this quarterly is improved from previous ones IMO.
Hard to see the SP doing anything positive until Gingin goes live. That date has already been delayed until November (see below), unless M8S can continue to reduce cash burn they’re going to need to tap the smelly SBANG related party loan...history repeating itself again. Remember, the previous incarnation of this business went into EA due to over indebtedness / solvency concerns.
Still here cause I’m a sucker for a landfill...
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