I can't believe all the negative garbage being bandied around regarding Lynas's reported cashflow and production figures.
I've posted elsewhere and no doubt will again on this thread: in April @ production just over 700t Lynas was effectively cashflow balanced. And production is growing steadily towards nameplate.
How do I know Lynas is breaking even?
Check the cash balance at the end of March (the quarterly): $23.4m.
Check the presentation: after the addition of $38m raising, cash @ hand is $61m at the end of April. The difference is $23m.
Zero cash burn for the month (or $400k if rounding errors are allowed) is a serious milestone for the LAMP project.
Yes, month on month figures are unreliable, as are figures from the ramp up as predictors of steady state numbers.
But it appears that Lynas's guidance of breakeven @ 750t per month may have been a little pessimistic.
It's worth checking what's in the COP in calculating cashflow. The answer from Lynas (last quarterly) is EVERYTHING (admin, interest payments, staff etc) EXCEPT 1 off capex costs and debt paydowns.
So I have no idea where trolls such as Janti get their numbers from. To quote J:
"FACT: the marginal cost of producing the extra tonnage in March was $25/kg, as per the Lynas quarterlies."
Ie greater tonnage greater loss. This so-called fact is simply WRONG.
If rubbish claims such as this one were true April would have been the worst month for Lynas in terms of cash burn since production is much greater. The opposite is true, not surprisingly.
Ignorance or deliberate malice?? I have my opinion but will leave you to form your own.
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I can't believe all the negative garbage being bandied around...
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