SYR 4.35% 22.0¢ syrah resources limited

Ann: Q1 2019 Interim Update, page-27

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  1. 1,964 Posts.
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    This report suggests that things are improving at a much faster clip than seemed possible, only two months ago.
    The key points are that, despite an average price approximately 15% below guidance, and shipments 5% above expected quarterly production, that cash position has gone backwards by only 2%.

    That strongly suggests that production costs are coming down much faster than appeared likely from previous announcements.

    With the BAM plant nearing completion, and a projected improvement in prices due to better product mix, it would be a surprise if we do not see SYR cashflow-positive in the next quarter.

    Cheers

 
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