Cash at end of Quarter $606,000 Net operating cashflow for Quarter = -$33,344,000 Estimated cashflow for next Quarter $44,433,000
Convertible Note time and further dilution for Ordinary shareholders or run out of cash. Pretty bloody dire.
V2O3 is called a "value-add product" - no, FeV is the value-add. V2O3 is an intermediate low value product, but it does allow them (1) to mothball the FeV plant since they are not going to make money running it at 20 or 30% capacity; (2) produce less V product to achieve breakeven costs; (3) transfer some risk to the buyer at the expense of profit.
No mention of litigation with MRL ? Hardly surprising - buying a plant sight-as-seen from the receiver means you do your due diligence upfront. A bit like buying an old car for "spares or repair".
ATI Price at posting:
17.0¢ Sentiment: None Disclosure: Not Held
