From previous announcement
"The business has achieved significant cost and debt reductions over a number of months and this is now leading to strong operating margins. We generated A$30M from our operations over the Quarter after interest payments and our contractor profit sharing obligations. It’s now about consolidating that improved performance and delivering value for shareholders."
The collapse of Mcaleese is a result of series of event not just about AGO. Also, the administrator would not let go of AGOas they are already making money out of it. AGO might even be their knight in shining armour once results are out since their investment with AGO will prop up their balance sheet.
Just to highlight previous announcement:
Highlights
- A$30M generated from operations after interest and contractor profit share
- 3.7M WMT shipped (March 2016 Quarter 3.9M WMT)
- Average realised price of A$57/WMT CFR (March 2016 Quarter A$53/WMT CFR)
- Full cash costs* of A$49/WMT CFR (March 2016 Quarter: A$49/WMT CFR)
- Net Debt reduced to A$109M at 30 June 16 (A$257M at 31 March 16) following successful debt restructure
- Utah Port Charges reduction extended to 30 June 2017
-
Identified lithium prospects on Atlas tenements
- Cash on hand at 30 June 2016 A$81M (31 March 2016: A$88M)
