Ann: Results of 2024 AGM, page-53

I had a go on the 4th Dec in this thread and I've posted a couple more times to try and explain it to myself (ie test it out). The crux of it is:

1. Their production costs should stay fairly fixed (except for logistics) because they are not moving any more material in the pit - the extra material they will process is mostly fixed.
2. Their revenue will increase from ~$12M to ~$18M this quarter if their price received stays the same.

Some others on this thread had an issue with the payables in the annual report. I agree with their concerns and can only speak to the payables typically being on 30 days from EOM and they are still in business. The only item that they spoke to were haulage costs that were delivered but not invoiced. However, this wouldn't put a dent in the $20M of payables.

The announcement today suggests that they have some cash flow issues.