August / September activity revisit just to keep all in perspective bearing in mind that the SP had been in decline since highs in November and then a steep decline in July.
16 August – Trading Halt
16 August – Equity Raising Presentation A$100 million placement & A$20 million SPP.Allows Core to deliver its near-term growth projects during Finniss ramp up whilst preserving balance sheet flexibility. We don’t know the circumstances of when the funds became available and the mechanics behind the arrangement, but we do know that the capital was required to maintain projects momentum and we do know that the SP was also already in decline.
Key milestone by company in that achieved first production in under 5 years from maiden resource discovery, pretty special really!
17 August – Successful completion of A$100 million placement
24 August – Ready for export: first lithium concentrate cargo for offtake agreements & first lithium fines sale.
6 September – Development projects update: BP33 & Carlton
At BP33 the $45-$50 million early works & feasibility study are progressing towards the FID.
8 September – Shipments sail, significant milestone with the sale of the fines delivering a revenue stream from a previously unsold by-product.
22 September – Completion of the SPP raising $11.4m was a bit underwhelming but with a SP & commodity price in decline understandable, but I took mine and more after.
29 September – First full-year profit as a lithium producer net profit after tax $10.8 million with higher projections to come.
SAY NO MORE!
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