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Scamboni
From the RNS 17th August 2023
US$329 million has been spent on the Araguaia construction out of the budgeted capital requirement of US$537 million
Liquidity and funding sources of US$344 million as of 30 June 2023
537m x 1.35 = 725m
725m - 329(already spent) - 344m(liquidity and funding sources) = $52m shortfall
Does this look right ?
So if you had tripled your workforce and had to wait 120 days for the new income generated to hit your bank account, by your own admission you wouldn't have been able to pay the extra workers on time, two months wages in the bank but you'd have to pay three months wages from the first month. Other upfont costs will obviously increase when you are trying to triple production. In my view the benefits from the increased production won't be felt fully for another couple of months.
SMorris1986, the share your pumping MNRG was suspended from 2nd May 2023 until 10th July 2023, for delaying there final results. You couldn't make it up, what a hypocrite!
I think it is Brendan Borg, if it is expect another similar sized sell, then he'll be completely out.
Luke Burtis and Alex Nichiporchik between them own almost 50% of the company.