Ann: Stage 1 Operations Update, page-85

According to the last quarterly AJM had $10million left. Gangfeng has supplied us with $15million? Lets assume the volume mentioned in the ann has been sold for an average of US$750 and AJM should have generated $25million before expenses. The last quarterly mentioned expected outflows to be $8.75 million.

We get the following:

$10 million (end of previous quarter)

$15 million (Gangfeng)

$25 million (Generated last quarter 2018)

-$10 million (expected outflows)

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$40 million should therefore be expected to be in the bank before tax, loan payback etc.

Anything I am missing?