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0.0¢ symbol mining limited

Ann: SL1 executes First Sale and secures up to A$3.7m in funding, page-14

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binwood

9,040 Posts.

3895

19/12/18

23:16

Post #: 36912945
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Originally posted by El Jefe ↑

They need to prove they can do a reasonable ramp up and keep costs under control.
Thats the only thing that will move this now.

We are in the hole for $8.1m or so but there was no other option and its a good deal by all accounts. At current prices and based on SS this will account for half if not more of expected Ebitda over the first 12 months of production.

Hopefully exploration can go good but if they cant make a profitable operation it will mean little. 1H19 is crunch time here, hopefully zinc/lead prices dont go down more.

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This sums it up for me. If we end the next 12 months with a plant, debt free, a couple million in the bank and exploration results that expand LOM this is worth more than $10m. If they can't mine it profitably nothing else matters.

SL1 Price at posting: 2.1¢ Sentiment: Buy Disclosure: Held
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