Well the operational reveiw is rapidly approaching and I'm still trying to get my head around the implications
The review is focusing on opportunities to reduce NAL’s cost base, manage cash flow and preserve the Quebec operation’s financial sustainability in a challenging market environment.
Well they have already laid off staff , have introduced and largely completed a number of initiatives to improve mine and plant performance and exploration drilling and Capex are in the process of winding down.
Other than dispose of Authier if a buyer could be found and push out timelines for the refinery at NAL and a concentrator at Moblan , I'm at a bit of a loss to imagine what else they could do to realistically cut costs or capex in a meaningful way other than C&M and thats very much a last resort and unlikely at this stage IMO.
A merger of SYA and PLL would be a chance to combine cash , rationalise / put on hold assets and concentrate on the most important thing which is generating cashflow from the only asset both have that can potentially do so. It solves some problems and is bound to create others . Unlikely but has to be in the mix.
Anyway would be interested in anyone's thoughts on the issue..
Cheers Whisky
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