Pretty much as I was expecting and flagged by the company, with shipments skewed towards this quarter. So no real supprises other than winter weather issues ( the storage dome has limitations) along with planned maintenance pushing plant utelisation time down...flow through expenditure now finished leaving merger costs as the only one off non recurring cost left. The uptick in production costs were expected with such low shipping volumes.
This quarter should see improvements in all metrics but the bottom line is the same, we need higher Spodumene prices and at the moment they aren't obliging. This Lithium bear is a particularly vicious one.
The 12-18 months cash buffer for prices to turn around still remains IMO , assuming completion of merger, but a lot can happen in that timeframe and needs to.
Despite great drilling results at Moblan, NAL remains our only realistic source of potential spodumene revenue without major expenditure or several years. As a producer we will be valued on performance not non producing assets.
Cheers Whisky
SYA Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
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