re: whats wrong with anl? ytrium ArhidasANL's circumstances are...

re: whats wrong with anl? ytrium Arhidas

ANL's circumstances are vastly better than they were 18 months ago. With the current nickel price the break even point of Murrin Murrin production for ANL is around 25,000 tpa. So at 32,000 tpa production, ANL would generate surplus cash at about 20 MAUD per quarter. Even at 28,500 tpa the cash surplus would be about 10 MAUD per quarter. If 40,000 tpa is achieved the cash surplus would be about 40 MAUD per quarter.


Barring plant failure I dont see how ANL could run out of cash in the short term. But I cannot see how ANL could prosper with lower nickel prices unless it expands plant capacity. The balance has changed considerably in ANL's favour, and if target production is achieved by June 2004, then a further capital raising to expand plant capacity probably wont be necessary.

Billy