NO CR needed !!
Not the reference to becoming 'Cash flow neutral" towards the end of the release.
Given this is achieved in the next quarter, this is likely to remove or reduce the need for a capital raising
The Company is pleased to report that production reached 575 tonnes in the month of March, 62% higher than the previous monthly record. This reflects the great progress in the ramp up towards the targeted production rate.
“The LAMP has now demonstrated growth in production and sales volumes for four consecutive quarters,” says Lynas CEO Eric Noyrez. “This improved performance reflects greater consistency and reliability of materials flow through the plant, and we are now building considerable production momentum.
“I am also very pleased to note that a favourable product mix has resulted in the average selling price realised by Lynas representing a premium to the market price.
“In addition, as previously stated in the December 2013 Quarterly Report, the LAMP’s organisational structure has evolved, enhancing operational performance. Organisational and personnel changes in the areas of shift supervision, repairs and maintenance procedures and modifications to process automation all underpin the improved performance. We will continue to seek areas where there may be opportunities for further improvement and cost efficiencies.”
Based on the continuing and accelerating improvement in performance in all operational areas, Lynas management is confident of achieving the targeted production run rate of 11,000tpa REO from the LAMP on a sustainable basis during the June 2014 quarter.
Mr Noyrez also noted that at current prices, the Company expects to be operating cash flow1 neutral at a monthly sales rate of around 750 tonnes REO.
Further updates will be provided in the Company’s March 2014 Quarterly Activities report, which is expected to be released on 30 April 2014.
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