Very low chance of a CR on SL1 I reckon. As of the last quarterly they show just $650k cash but the foot note states that they then had $1050k held in trust which was released after reporting date (trance 2 of the CR). Total should have been $1.7m which covers the core running costs. In terms of production costs they have entered into a US$3m export loan facility which covers any remaining development. Should be smooth sailing/shipping.
"Symbol made significant progress and achieved major milestones during the half-year culminating in the commencement of mining at the Macy Project subsequent to 30 June 2018. Symbol remains on track to deliver its first shipment of high-grade zinc direct shippable ore (“DSO”early in the fourth Quarter. This should enable the Company to self-fund ongoing exploration to expand the resources within the Imperial JV, plus provide significant growth opportunities by allowing the Company to secure additional tenements targeting highgrade zinc and lead deposits in H2 of 2018."
early in the fourth Quarter. This should enable the Company to self-fund ongoing exploration to expand the resources within the Imperial JV, plus provide significant growth opportunities by allowing the Company to secure additional tenements targeting highgrade zinc and lead deposits in H2 of 2018."
(20min delay)
