Good morning spid,Essentially this means that within the next...

Good morning spid,
Essentially this means that within the next few days the cash on hand for the company would reach about 12 million AUD (vs a 9m AUD debt). So according to 1.5c share price we are talking for an enterprise value of circa 12 million AUD for a company that has some valuable producing assets, a mature market, ready clientele, etc.

This is lower than many ASX juniors with unproven assets and zero market exposure whatsoever.

More than that as you said we should expect a 2nd ilmenite cargo the next 6 months of possibly a higher value due to an expected raise in ilmenite price. In that case we talk for a company with low single digits P/E, not even mentioning the possibility of any profits from Graphite or any possible profits increases from the capex projects in south africa mineral sands (ilmenite beneficiation etc).