Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
No problem, cheers
Faramog, I was merely pointing our Harchris's error in stating that the P&L would benefit by $9.25m, quite a material error you would think.
In fact Harchris, you posted only yesterday that you thought AISC was $35.5, and this specifically excludes finance costs!
Would be good if you could back that assertion up with numbers Harchris, a couple of days ago I posted a higher number that was based on actual numbers pulled from the accounts, not just a figure plucked from the air.
Harchris, while there will be additional cash, there most certainly won't be an additional $9.25m of profit added, this stock would have been carried in the balance sheet at cost so only the profit element will be included; we don't know the exact numbers of course but say it was in the December balance sheet at $36 and sold for $40 then the recognised profit from selling this is sub $1m.
I really wish you would stop trying to mislead the board
Stop trying to mislead people Pdub, selling price has fallen by more than any savings gained from cost reductions, FX etc. Try telling both sides of the story for a change instead of just the bits you want people to hear.
If you're going to tell a story Harchris, tell the whole story, prices are still 13% down on 6 months ago, this is straight from the link you posted. They weren't making money then so what do you think is happening now?
Harchris, do you realise that AISC excludes finance costs, so you can add another $3.5 to that figure of $35.5? Do you think profits are being made at a cost of $39?
Q2 figures will be interesting, given that vanadium prices have been falling
No, the write down provision is excluded from these numbers, please refer to the financials in the RNS for verification. The problem with EBITDA as presented in the accounts is that it ignores finance costs, these are very real!
HI Faramog, from the other day, sorry should have said $42.2
Cost of sales 108304
Selling and distribution costs 9270
Other mine operating costs 2723
Idle plant costs 6725
Administration expenses 20838
Finance costs 14140
Total 162000
Granted, some of the idle mine costs may disappear but I have excluded the loss on shared ventures to allow for this. On this basis the cost per unit is $42.2 per unit. I believe the $43.7, whilst it included the impairment cost, did not include any finance costs, but please correct me if wrong. Still looks like a breakeven scenario on current pricing given the impact of inflationary cost increases
Harchris, your statement " $41.4/kgV average realised price was very strong. So far in 2023 the average price achieved by the group is not too far off that." says a lot.
All in costs are $43.7/kgv - that's why it's in the mess it is.
Those mines will be worth the sum of diddly squat if it costs more to get the vanadium out of it than they can sell it for. With such thin margins (if any) at present no one would touch them with a barge pole.
Wake up and smell the coffee Pdub, at this rate you'll only be talking to yourself on the board! You've done nothing but praise the company all the way down from 48p, get a grip on reality & check the financials, they don't lie.
They can produce all they like but if the overall cost of production per unit is greater than the sales price achieved, it's only going to increase losses. How will they be funded?
Nah, he'll hold on until the bitter end, still saying operational progress is great
Harchris, do you believe the company is making profits at the current level of vanadium pricing given that the all in cost of production appears to be over $40?
No evidence of Fortune selling but he does have 4 business days to report it, so who knows?
How strange Pdub, I discussed costs yesterday but you chose to ignore as it didn't fit your agenda:
Hi Bushy, you are correct, it's the way it's laid out in the overview that muddles the issue: if I do a deeper analysis of the costs for last year (excluding impairment costs) I get:
Cost of sales 108304
Selling and distribution costs 9270
Other mine operating costs 2723
Idle plant costs 6725
Administration expenses 20838
Finance costs 14140
Total 162000
Granted, some of the idle mine costs may disappear but I have excluded the loss on shared ventures to allow for this. On this basis the cost per unit is $42.2 per unit. I believe the $43.7, whilst it included the impairment cost, did not include any finance costs, but please correct me if wrong. Still looks like a breakeven scenario on current pricing given the impact of inflationary cost increases.
Thanks Pdub, I won't have to listen to you denying the facts I post anymore.