Why quote revenue only? On the limited information revealed in the activities report, the true picture being:
Tormin
Despite slightly increased production, the cost has increase even more proportionally to the production increase. Sale/Cost ratio has gone backwards to 1.02. On this trend, it may well become less than 1 with more production. This is against a backdrop of some 10% increase in sales price (could be seasonal due to rotating product mix), so cost has gone way up.
Skarland (90%)
The Sale/Cost ratio is at 0.80, it made a loss of 210 USD every tonne produced.
Overall the cash on hand reduced by half a mil in the quarter, with the graphite mine contributing to majority of that and now the only asset.
There's no turnaround story to be found here. The throw away lines of 'capital expenditure to improve production/reduce cost has been wheeled out a couple times over the years now, with nothing to show for it.
Why quote revenue only? On the limited information revealed in...
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