Some positive news here I think. Plant Commissioning is complete and since they are expecting to produce 49000 tons of chromite over the next 7 months it must be running at near capacity (Assuming not much produced so far this year).
Also good that 3 companies have decided to replace their zircon with Spherichrome. shows the product is not a dud and should sell in the medium term. (At least I think that's what the table on page 25 is saying)
No word on sales, but I suppose it's difficult to make too many sales if you haven't got the product in stock and your opposition does.
One problem may be cashflow over the next few months. Quarterly said costs of $1.45M per month and $3.36M cash will run out in December. Payment from zircon sales ($1M / month) possibly starting in February.
IDM Price at posting:
14.9¢ Sentiment: LT Buy Disclosure: Held