For those that still doubt the Solaro purchaseIt appears that...

For those that still doubt the Solaro purchase
It appears that Saloro contributed around 14 M to the receivables, MC about 4 and a bit from the quarry.
Saloro made a profit, as a mine asset, of 1.5 million so costs were 12.5M.
The current APT price in AUD is about $550 per mtu, the average in the December quarter was around $500, the price increase is 10%.

This means that for the same output Saloro would now make around 15.5 M with costs the same as the euro/USD have not changed much at all, so Salaro could reasonably be making 1M a month at present. Further price rise, say another 10 % before years end will have the profit around 2.5 M per month. Pure speculation but W is a commodity and like all commodities the rise and fall of prices is the real driver of success not some of the rubbish that appears on here.

Now, with respect to MC, it appears to have lost about 6 weeks (50%) of its potential output due to the water issue. If it had the modest revenue of 8M, due to the low grade ore being processed for the entire quarter, and we had 6 M in the bank, would the report have been received as badly?

As i said before I believe this is an operations management stuff up and cost Kevin dearly, but at least the proactive measure was taken to forget mining low grade stuff they couldn't process and concentrate on getting to the good stuff. Cash flow issue but long term can be recovered from quite easily.

To counter some of the rubbish about EQR redefining grades greater that 1% as excellent, The picture below is G6M (has the highest grades of any mine) for a year (not just a month) and we know recoveries are a problem there, so finding a grade of over 1 % at MC is indeed excellent. Also stated that only the 8 drill holes found anything worthwhile, totally false, many other holes found lower, but still worthwhile grades and a few, of course did not.
Other rubbish, Crominent made "10s of millions" out of EQR. Well if they "made" read profited, that much over a 4 year span with the deal over shouldn't that mean the equivalent if flowing back to EQR now? Or was it a fabrication? Crominent are being paid 1% to market EQR product, should they provide this service for nothing?


And yes, why the TGN share performs like it has is a mystery.