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clock Created with Sketch. 05/02/19
14:36
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Originally posted by Vector:
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The company’s delayed annual results are due to it continuing to address an ongoing liquidity crunch, with Nyrstar having €350 million of bonds to pay back in September this year. The company needs to reach an agreement on the financial restructuring with bondholders before an accountant can sign off on a going-concern statement, ABN AMRO’s Ngotho said. These ongoing concerns mean hopes for the future continue to be pinned on the future profitability of Nyrstar's Port Pirie operations near Adelaide in South Australia, which Nyrstar downgraded to €130 million per year at its peak. The company also said that the future of its entire Australian operations were tied up with the redevelopment of Port Pirie, where a lead smelter being re-engineered to also process highly chemically complex smelting waste products. “In the absence of the Port Pirie redevelopment, the [company's Tasmanian facility at] Hobart and [its] Port Pirie sites would both be non-operational,” Nyrstar said. Nyrstar’s annual zinc metal production is up by 4% at 1.064 million tonnes. Lead production was down 7% at 160,000 tonnes.
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more rubbish and lies for your short Vector!
