you were right treefeed. I was looking at it through rose...

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Ryphil

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12/11/14

11:33

Post #: 14275511
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Originally posted by treefeed ↑

Following up on last quarter's argument... Production during Q1 - Q3 was 243t + 254t + 274t = 771t of ferrotungsten. This equals 51,4% of planned output for 2014 leaving 729t to be produced during Q4, almost the amount of FeW that was produced during the first three quarters combined. The data clearly did prove my scepticism right. The company will almost certainly fall short of its production target by a considerable margin.

Payments received of 5,019 and costs of production of 5,939 clearly demonstrate my assessment the operation was not profitable hit the nail on the head. Adjusting for what is being called "ramp up"... sales of 274t FeW would have resulted in revenues of 5.4M, not taking into account the recent price decline, still 0.5M short of costs of production.

All in all the company was $2.4M cash flow negative and cash in hand of 0.4M indicates the next capital raising is just around the corner IMO. Those who were jumping at my throat when I told it like it is, were wrong. Thank you very much.

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you were right treefeed. I was looking at it through rose coloured glasses...shame on management for getting their predictions so wrong...
at the moment looks like we're in for a bit of an SP pump to get the CR going and sail the salaries through the AGM...the usual bs...
I sold out my modest parcel because it doesn't look like they will be profitable...just another Lynas...so will probably not be posting here much more
good luck to the holders

HAZ Price at posting: 2.3¢ Sentiment: Hold Disclosure: Not Held
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0 Great analysis

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you were right treefeed. I was looking at it through rose...

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