VA is behind us now. The rains are not helping us.
The Company’s operating performance during the current June quarter has been impacted by heavy rainfall at the start of April, as well as continued planned enabling works to prepare for the production ramp-up from the expansion projects.
There was also some unplanned maintenance in May that will affect output for the quarter and higher than expected rainfall late in the month. The Company’s cash balance as at the end of May 2025 was ~US$160 million, following capital expenditure on expansion projects (US$20 million) and the cash backing of bank guarantees previously drawn under the ABL facility (US$22 million) as noted above.
CRN Price at posting:
11.0¢ Sentiment: Hold Disclosure: Held
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