Originally posted by hoek67
Mining is not like cutting up cake... probably a good reason to mine the crap 1st however seems a lot of people on here should be working for GXY as they seem to know more than the people running it and calling the shots.
Until the Escrowed cash is physically in GXY's hand don't expect them to strike a deal with anyone (it's just not good business practise) where the deal requires the cash or part of.
My logic would be to mix up the good and bad ground to minimize tax on profits. Even though GXY has credits... no point using up the credits faster than what you need to.
Saw an article about the lithium industry being unstoppable now and how the demand keeps surpassing projections.
Anyway making money and still progressing.
Exactly. Mine the crap first.
But why? Well...
The new pit has significantly HIGHER quality Ore. Use that when the 75% recoveries are complete (very close now). Meanwhile keep the cash ticking over, MEETING customer quality requirements (as they did) by using up the old lower quality Ore.
As I said yesterday, we were told the impact from the higher recoveries wouldn't be shown till the next quarterly (meaning the next quarterly after this one).
Nothing here of concern imo. All as I expected it to be going off managements guidance last time round.
Every negative in the report has been explained and shown to only be very temporary setbacks, most of which have already been sorted out, the bulk of which are actually just a by-product of the improved recovery project being undertaken.
And market looks to the future, not the past - but unfortunately the resident shorters cant seem to comprehend that.
Mt Cattlin in its pre-75% recovery state isn't why any smart investor is here. Shorts are clutching at straws if they think the drop they seek will come from this project.
FYI - Cash on hand levels are down because (AS WE KNOW) we are now progressing SDV with or without a partner. Cash has been spent and will continue to be = 14 hectare test pond construction is moving along nicely.
Also some great updates (hints) on exactly what the "alternate methods" for Lithium Brine we are testing might actually be. Pretty exciting to see the experts at work on the SDV project.
Happy to buy more at these levels (again). Especially when I see usual brigade out in force spinning their sheet.
DYOR and don't forget to listen to the conference call.
