Despite another day of chest beating, blood letting and over the top crap the Companies fundamentals have not only improved over the year but the Company is still on track to achieve all its milestones it set out to do and in the time expected.
2023 milestones expected:
1: reach production, done and ahead ot time
2: reach nameplate, targetted for Oct very much on track, even better targetting a higher rate at 226,000 tpa.
3: New OTA: currently in front of the board and expected soon, missed original timeline but only has to be completed before first shipment .
4: First shipment: expected in July, no particular reason why it won't but yet to established but will happen regardless
5: Target of 85-115,000 t and 4 shipments in the second half of the year. Given nameplate looks to be ahead of schedual the top end of expectations could well be exceeded . We already have around 30,000t at the Port that can be added to that for the year total.
6: Resource upgrade at Moblan done adding considerable underlying value.
7: Resource expansion drilling at Moblan and NAL proceeding.
8: PFS for NAL concentrator completed but DFS pushed into 2024.
9: PFS for Moblan now going straight to a DFS due latter in the year largely because of growing resource expectations potentially changing the parameters , making a PFS now rather meaningless, that may get pushed into 2024 , we'll see.
So while some components have come in later than anticipated the overall machine that ultimately generates income which is what really matters ,is on track for CY23 guidance.
The main event that wasnt expected this year was the recent CR, you never get advanced warning with them, which dilluted on one hand and strengthened our balance sheet on the other, it's the fate of many startups and now we approach revenue hopefully fund raising will be done in other ways. The other main change is concentrate price being off around 35% year to date so quelling some of the hype.
As for shareprice or MC as I prefer , it's like most Lithium stocks and getting pushed around by various factors and market forces but what we think the MC should be is not necessarily what the market thinks. Perrsonally I dont know what value should be placed at this point in time the only price that matters to me is the one I sell at and there is a lot more water to go under the bridge before that happens.
Over time the market generally recognises value based on market norms and often under or overshoot along the way. The basic fundamentals have never been better so only time and Lithium prices can sort out how we perform going forward, if you haven't got time that's hardly the companies problem it only thinks longterm..its been a frustrating time but that's a common complaint with most companies at various times...
Cheers Whisky
