If you look at the quarter in isolation its fairly bleak. Low prices coupled with low production has resulted in a negative cash flow quarter. Albeit if you add the ALEB bond payment back in, is about break even (which under the circumstances I'm booking in as a win).
But share prices are a reflection of what the company is going to do not what it has done.
I'll been keen to hear more on the call about:
Higher content of SEG in the blend (Tb Dy) - And what affect that will have on average REO price going forward.
Improved prices for La - Ce
Can they get approval for the annual important limits (to avoid this quarter in the future)
Production will be right back up for Q3 - And hopefully off this higher average price from SEG blend. So depending on how the share price reacts today it could be a buying opportunity in the coming week.
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