Hey
@surfyy &
@whisky49
I am surprised that you guys say that the company is progressing well and shipping doesn't matter. (Just combining two points out of each of your posts)
Shipping is the bread and butter of the company. If they don't ship they don't get paid...
If this does not occur, the company is not performing well.
Simpelz!
I had expected a slow down in the first quarter due to the works on the YOP, the company even pointed this out in a conference call..
Then we received the announcement on the 13th of May that the production was smokin' and in their words....
Record monthly production volume of 21,901 dry metric tonnes (“dmt”
of lithium concentrate for April 2019, representing an equivalent annualized run rate of over 260,000 dmt
Please just hear me out at this point.
They told us, that the run rate in the first month of the quarter is the equivalent of an additional 5000 to 7000 tonnes PER MONTH!
Yet, in the first quarter they came out with an announcement on the 28th of February and said...
Targeting 40-45kt spodumene production in Q1 2019
I realise it says production, but please let me finish as there is a point I am trying to make..
Yet they only shipped 15,000 for that entire quarter wasn't it? - Then blamed it on the customer not needing the supply.
Based on shipping data that we have, it appears that the company will only ship 30,000 tonnes for this quarter.
Yet, they are absolutely cranking it out at Mt Cattlin? - Or was that announcement on the 13th May just a feel good story?
"Yep, we are making pebbles bro, but no one wants them!"
"Sweet, keep up the good worr... Hey? What! No one wants them?"
"No well just our customer, they don't want us to sell them any"
Translated to: We are spending all this money but are unable to generate income because no one wants to buy the product from us/cannot sell it elsewhere. (For what reason I dunno)
You would think, with all the combined wisdom of our highly accredited board of directors and that of having Mitsubishi as their ever so respected middle man (That will make sure we get the money) -that- there would be a clause to ensure that if the customer don't take what they are signed up for that they have to pay. In other words.
You have a contact. Pay up MOFO!
After all, what was that 5 year contract announcement all about?
So now with everything running so well at Mt Cattlin, what will they say for this quarter?
"Oh yes, well, y'know, our customer just didn't want it all then either, so we didn't send any...money isn't everything y'know!"
How complicated is it?
If you make it... Ship the F'n stuff!
Maybe the next comment might sound like I am pinching a leaf out of
@asb83 bible, but quite simply it's like this...
We ship rocks, and we need to ship those rocks to make money. <-- this is important.
It's no different to coal.
Ship the tonnes... Get the reward.
If we don't ship, and don't make money... Or continue to have management making statements to the market that leaves expectations not being met, we have what we see today. A piece of crap share price. - Is that a reasonable and balanced view assessment?
I am really trying to hold back from calling the current management incompetent but is it kinda leaning towards that now? I'm not sure.
When we heard complaints of Martin being sung and how Anthony was unable to get the job done with the board, you've then gotta say...
Well maybe they are all just as f'd in the head as each other?
Because business is simple. You bring in revenue and you make as much profit as possible.
It's no wonder
@airconditioner bailed earlier this year. Perhaps quietly removing his chips from the table, and not saying a word. Maybe he couldn't get through to the company either, and it was all about their rewards rather than that of the holders.
The ironic thing is that, come middle next year, they need to get this share price moving up and well over $2.70 to make those millions of options they wanted worthwhile.
The writing appears to be somewhat on the wall...
(By the way
@Jambon the earnings call transcripts are available on Seeking Alpha let me know if you need further help)
