Bauxite customer mmi, page-41

Well, management might negotiate contract but that is not their success because they failed to have contract in place with multiple supplier well before commencing mining that is biggest failure. Obviously no one has predicted Covid but if they had multiple contract pre-covid then situation would be different today and you won't be waiting for new contract.

Company do have revenue but last December end report issued 26th Feb 2021 shows negative operating cashflow on page 38 of the pdf...with negative EPS... obviously we need to blame Covid or rain or something else but real reason is that even though there is good prospect for the company the management had let the shareholders down... IMO. There was no contingency for xinfa planned well in advance... IMO

So as of last announcement they had buyer for the half the quantity of product they can produce this season unless they find new buyer... obviously IMO new buyer won't be buying for top-dollar as they know that there is enough supply of bauxite available for time being until all covid stuff sorted out and MMI is desperate for the deal .. IMO.

Don't take me wrong, the price might come back and company who differed payment of debt recently will pay that off but then there will be new debt for stage 2 so basically a company could have paid all debt by now and could have started paying dividend will now need to wait more years for that happen until then trader will play with the price .. (up & down).. and if you can benefit out of then GL.