Garbage QuarterI don't know how anyone can see this positively? First of all, the cash position decreased. I don't care about seasonality, when cobalt was at 40$ and nickel upper 6$, a small amount of fertizlizer sales should swing the cash that much. THis company just can't produce positive cash flow.
Ambatovy's production is terrible, they decreased guidance.
They didn't decrease guidance on Moa, but what a sham. To hit the lower end of the guidance, they would have to produce at 9,100 ni per quarter and 1,000 cobalt per quarter. They have never produced over 4,500 for 2 quarter in a row (in recent history). They have never ever produced over 500 tonnes of cobalt (maybe ever). This shows you how greasy management is.
Market is going to hit this report.