General Discussion Topics, page-144517

Thanks for that JH , although it was just a verbalised version of the recent presentation it touched on something I mentioned in a recent post, that is the NAL JV work well together and going downstream is still on the table, its just how and when thats been given a re think given current circumstances.

Also on the subject of the NAL JV LD mentioned if they proceed with expanding production at NAL beyond the current agreement the terms would need to be revised. No particular drama just dealing with a evolving situation.

Although not at breakeven yet , he seemed confident on getting through this cycle on existing cash but obvoiusly spod prices will be the ultimate judge of that.

Nothing flashy, just getting on with the daily grind of running a company in difficult times while still planning for the future.

I often get attacked for supporting BOD /management despite a crashing shareprice, the reason is simple I've never had a reason to think anyone else could do a better job of getting us through this downturn better than JB/ BOD and now LD and the very fact we are still in production is a testament to that. The crashing shareprice was directly related to crashing spod prices much the same as soaring spod prices were directly related to soaring shareprices, more to do with markets than management.

Its not a management can do no wrong approach, they all can, its more what they do right in a situation where they have no control over prices only costs. In a cyclical sector the ability to survive is first priority.

Cheers Whisky