MHM is now a lobster pot , you can get in OK , but once you are...

MHM is now a lobster pot , you can get in OK , but once you are in you cannot get out , this IMO is the reason why so many in the top 20 remain .

Only a week or so to wait and the next quarterly should be out .

You would hope to see a small pick up in in revenue to maybe $1.3m for the Quarter.

If they can achieve that it would be positive , but my view is that the most important part of the quarterly will be to see just how much has been shaved off the expenses line and whether the capital expenditure for upgrades to the plant has been curbed enough to reduce the previous heavy cash burn Geelong created .

From a cash flow perspective it is positive that all the costs associated with a start up in USA is delayed , the staff and number of shifts at Geelong has been reduced , the spend on mining has stopped and the past directors have come off the payroll, now all they need is for the revenue to grow to a number above the costs and then maybe the business is worth a competitor considering taking a look at them .

Until then Befesa which operates in Europe would not give a hoot about what MHM does in Australia let alone hoped to do in the US