$20m annual loss. This includes benefit of US$ dropping as reduces the US$80m owing to L&M and reversal of an impairment charge of $7m. Precisely which impairment they are reversing baffles me.
On continued operations basis, annual loss is ~$29m.
Current projects operating @ negative margins (all the way from EBIT line down...)including a whopping $10m on cartage. I have mentioned freight as a large cost as recently as last week and was laughed out of the forum. Even I wasn't expecting $10m!! That translates to $38 per tonne sold, or $41 per tonne mined (to the uninitiated:- BRL sell a stack of third party coal).
June 30 cash = 12m less monthly burn*2 (2.3*2) of 4.7m = 7.3m in the tin as of today.
= capital raising before November.
here's hoping the approvals come through..
$20m annual loss. This includes benefit of US$ dropping as...
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