MMI General Discussion, page-15

Wondering about Q2 quarterly

1.4WMT
@$15 gross margin
=> $22.5m revs after site costs, freight, royalties

admin costs? Say $3m
finance costs? Say $4m
cost of equity raise and last quarter's loan discharge? Say $1m
these are very crude ballpark estimates based on last years' costs, hopefully estimated on the high side
=> Total $8m in these other costs for the quarter

Net cashflow 22.5-8 = $14.5m
which matches the rest of the Junior debt they intend to retire this quarter

Which retains the working cap they established after the cap raise.
Of course, less equipment costs for the upgrade work, which I'd assume they take out of that working cap.

A very crude estimate, more of a wet finger than a simple model ...
But maybe lines up nicely with their stated intent to pay off the rest of the Junior debt

After that, less debt costs, less finance/equity costs, more tons shipped, further spend on upgrades in prodn and reduced optg costs coming out of that working cap ....

Any comment?

Maybe a bit premature to be counting on that $15 gross margin? Especially as they've been getting up to full production levels.