Actually looks like ATLAS COPCO ended up with a realistic figure given the dispute AND possibly onerous interpretation of their maintenance responsiblities for the equipment and servicing,now done by APEX because it's cheaper. Funny can remember ages ago when cost savings were announced-immediate savings of $700k/mo and ongoing of 350K?,so it sound like a bit of inflation has taken that down to 320k(700-380k/mo to ATLAS) Apex ended up with a discount,on time payment terms,that probably coincide with the end of the finance lease on the ATLAS COPCO plant.WELL DONE Now the roughly 5000 oz apparently held back from sale over the MAY/JUNE QTRs(undersold and presumably to settle this if forced) can be cashed in without making the accounts look like APEX had more cash at the end of the year to be able to make a higher and immediate settlement to ATLAS COPCO.If it got to court no judge would have forced immediate payment,given those apparent cash balance circumstances.
Lets hope such financial nouse is translated now into mining nouse,to get ore into this plant or is that what they have progressively been doing?The last 6 months figures would sort of say yes.Supposedly preparing to stope higher grades we were told as well.
Now the GUP's have been got rid of and ATLAS settled,maybe the games can stop.Shareholders can't argue with the fact the company has now got the financial monkeys off its back.AT Just under a $25m discount to what would have been owed.
Still a credibility gap for longterm holders and the market as a whole,hence its market value.It wasn't that long ago institutions fronted up a considerable sum of money to set the stage for NOW.
Quarterly production will settle it for many either way.
DYOR+DYODD
AXM Price at posting:
0.8¢ Sentiment: None Disclosure: Held
