RE: Atm21 Feb 2020 08:52
Worzel, i don't recall 24/7 being quoted earlier as the basis for 60 t/pm. However, throughput still needs to be quadrupled (more or less) from the Jan number to reach 45k tonne per month, so on the basis of monthly progress so far, and the ongoing de-bottlenecking, i'd expect them to need the full period till June + the extra shift pattern to get there. I'm no engineer but AV seems to giving a more cautious message here, relative to previous forecasts. Maybe the new VP of operations will show his worth and get us there quicker, which would be great for us all. I'd still like more detail on progress with the phase 2 feasibility study - if you go back to the November interims, he stated that achieving full phase 1 production would be the platform to focus on the feasibility study for phase 2 expansion - i'm hoping we're not waiting for it to actually happen before that work is done and i'd like to have seen some reference to what has been done in recent months to progress that. I guess the 9m odd shares that were issued in december in lieu of salaries and other costs have contributed to selling pressures since, as they get monitised, so can understand the weak SP despite the ongoing progress.
Still think this is a potential takeover/takeout story to be honest but only clarity on the terms of the finance package will influence what the options are at that stage. The company did get several approaches last year, the shares & trading vols are at a two year low, interest is also pretty absent - not saying it will happen but if you're going to pounce, this is often when it happens..GL
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