If they have given up on the possibility of funding the new mine development, which sounds likely, then cash burn won't be huge as it is a straightforward liquidation. May look to sell mining rights and existing infrastructure which could take a few months.
best outcome would be to get $50M mine rehab provision back in a potential mineral rights sale. Someone could bend Sierra Lions over a barrel for future mining royalties if they agree to restart the mine.
Also, with other rutile suppliers suspending production (Illuka) , and customers knowing supply might be restrained they may get a good price for inventory.
Ann: Trading Halt, page-19
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Last
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Mkt cap ! $55.17M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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| Last trade - 16.10pm 08/05/2024 (20 minute delay) ? |
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Last
13.0¢ |
Change
0.010 ( 8.24 %) |
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| Last updated 15.59pm 08/05/2024 ? | |||||
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