They have gotten through the worst of the rainy season and have pretty much secured 40k tonnes of sales a month as their base case. They are cashflow positive for the year, albeit barely and have sufficient capacity to ramp up to 60k tonnes pm if required at minimal cost.
From what it looks like at least, 45k per month is their breakeven point. Above that and they are cashflow positive (and I think profitable), below that they are not. With 40k more or less locked in, a few additional sales either within Tanzania or across the region will push them into positive territory. Per the last quarterly, Dangote and Arti river cement have both indicated a likely increase in coal needs moving forward and regionally they (have at least said) they are on the hunt for new sales and making progress.
They have upgraded their machinery during the year, so should not have any additional large capital expenses until sufficient demand requires them to increase production, at which point, one would assume they would have the necessary cash to do so.
Also, another Tanzania based coal miner has been able to negotiate a supply deal with Tanesco, which I see as if not positive, at least not negative to IEC's quest to get the deal up an running (at some point) with Sino Hydro.
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