To be honest it doesn't look like we need much capital, I believe only to cover timing of cashflows. ie we pay overheads before we get paid.
From the past we have only shipped out(received payment) for 69% of our production(march quarter), so I steadily increased this to being paid for all 100% of production in December. This is probably quite a pessimistic assumption.
-Blue box illustrates our expected outflow of 48million next quarter
BTW achieving breakeven cashflow, means if we produce at nameplate, only sell 82% of this production, at a COP of $18.51/kg at a basket price of $22.63. If in fact we are selling all of our production, but receiving payment later, we are in a stronger position than i have illustrated. Let me know what you guys think...just did it for fun :) August is my target for breakeven production, but we need maybe only 3 months production cost at most <48 million.
LYC Price at posting:
16.5¢ Sentiment: LT Buy Disclosure: Held
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