Joe Lowry up to his old tricks, page-34

For those not monitoring the numbers, the tonnage shipped through Q2 up until June 15 was 2,396 t for revenue of of 17.8m USD. We have been told that current cash cost is circa 3500 USD/t. That looks like a cash contribution of 9.4m USD (before logistics and selling expenses etc) in around 10 weeks

Shipments appear to be more or less in line with guidance of production of 3,000 t in Q2

Average selling price in June is 8,707 USD/t up from 5,813 in march. With individual shipments at prices as high as 17,000 USD/t, it seems to support the price guidance of >10,000 USD/t in Q3 (after selling and logistics expenses)

If it does no better than that, then 12,000 tpa @ 6,500 USD margin (after logistics and selling expenses) is 78 mUSD/year.
If it gets to nameplate, well, average cost per t comes down & revenue goes up - it is ever so much better.
If it does a stage 2 expansion ?

Yep, folks it is a dog! An absolute woofer! You would be barking mad to own it! The truth will come out eventually...