The plant was purchased from Murray Zircon & Management is aware...

The plant was purchased from Murray Zircon & Management is aware of its previous history. Budgeted feed is set at 500 tph & must have previously been reached.
The February annual budget is very hard to believe. Namely:
Production is set at 220-240k tons yet December & January production adjusted for normal production speed, indicate 270-300k tons.
Costs are $385-$420 yet with the extra production are most likely to be under $300 per ton, & this will be proved when the Jan-March figures are available.
Sales are set at between $568 & $591 per ton, but taking in the October 12% price increase & a 4% currency gain, should result in figures of about $636 to $662 per ton.
In addition:
with so many thousand tons of high grade ore processed in January I am surprised that it was only during March that it was established that there is a high grade core, & hard to believe that this was not discovered when the reserve was established.
Sales may well prove to be the achilles heel as only 48k of production have been shipped to date.
I do believe that IMA can have a excellent future but certainly need to urgently sort out sale & production problems.
Currently I lack faith & have sold 80% of my shareholding over the last month.