galaxy postpones hong kong ipo on poor financi, page-4

I don't want to be seen as down ramping but on page 117 of the HK offer document its says that $1.5 million is 1.6% of the total operating costs. This means the total planned operating costs are $93 million.

They are planning on 17000 tpa of lithium carbonate so to get back the operating costs they need a price of $5400/t, that's to brake even. Is there a mistake here? Seems like on today's prices the planned operation is not profitable.

Even the ~$4400 detailed operating costs would not bring in enough on today's Li prices to pay back the debt over the 14 year mine life. They are looking insolvent ATM.

I suggest people read the HK offer document very carefully. If I have this wrong please let me know.

The above is my amateur opinion and not suitable as financial advice