POSCO Joint Venture, page-10

It's interesting watching the struggles over at the other Li hopefuls and then compare their respective plights to that of GXY.
For example, AJM just announced a cap raising this morning and the shareholders have gone wild on the threads. With $9m in the bank as at 31 Dec 18 and an expected cashflow requirement of $46.4m for the next quarter, they are in dire need of some additional capital funding. Oh, and they have loan facilities totalling A$172.933m.
Then look at A40: They have a bank balance of $13.05m as at 31 December 18, with their first shipment of circa 23kt going out this month. They have an estimated cash requirement for the quarter of $51.1m and have guided on production for the first half of this calendar year of between 45k to 80k t. At an average assumed selling price of US$700/ t (A$933/t), their total income will be in the order of A$74.6m for the next 6 months (assuming maximum production) or $37.3m for the next quarter (assuming equal allocation). Therefore, they need more than $13.8m cash next quarter to cover their costs - which is more than their available cash. Oh, and they have loan facilities of $53.4m + an "other facility" of $11.437m.
I then look at GXY:
* US$41.1m cash in the bank
* US$272m cash "in transit"
* No debt
* Positive net quarterly cashflows
etc etc............
and, I wonder why the market is treating all Li producers with the same disrespect??
Surely, the market will wake up soon and differentiate between good performers and those that are struggling................ you would think??
Anyway, this huge disconnect between market valuation and "real company value" will be worked out and acted upon by the savvy investors. It's all a matter of time.