Hi Boontime,
You really have no idea do you? There is a difference between working capital and operating costs (OPEX)
Working capital is the costs associated with running the company daily. ASX fees, directors fees, lease feeds ect.
Operating costs (OPEX) - is the costs associated with producing graphite concentrate at the mine.
I hope now that you understand the difference between Working Capital and Operating costs (OPEX) you will understand how i got to the $9mil figure.
The following is from a post I made early,
Working capital (12 months) WKT has no cash in the bank to continue as a going concern. min $3mil, Its going to take WKT months to get through all of the conditions precedent.
Then the company will need funds for operating the production facility, for at least 6 months, this could be raised at a later day, but why wait until all of the risks kicks in with commissioning.
OPEX US$347 per tonne x 20,000tpa (6 months operating costs) = US$6.9mil = 9 Mil AUD
If you look at the ASX's largest producer who has a similar TGC graphite feed, their OPEX is around US$550 per tonne, if WKT sees a similar OPEX they will require at least US$11mil or $14 mil AUD for the 6 months of processing at Lindi.
Have a long think about this Boontime before replying back.
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