OTCPK:NNDIF - Post by User
Comment by
Bigbird9999on May 01, 2017 10:34pm
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Post# 26190229
RE:RE:AGM Toronto
RE:RE:AGM TorontoThe ready to sell portion of the finished goods is 25000 - 30000 tonnes. According to the metal sales contract Glencore will have purchased this today. Including premiums Revenue from this will be about CAD$3700 (US$2800) per tonne =~$100 million CAD. This will be used to pay down the ABL line which stood at $123 million on Mar 31.
Going forward the balance sheet assets will be about $100 million lower offset by $100 million lower debt. Boone stated that the total inventory was about 80000 tonnes on Mar 31. In future we should expect this to be about 50 - 60000 tonnes.
When the plant returns to full production (22667 tonnes per month - 69000 tonnes per quarter) metal sales will be equal to sales revenues so we will not see the huge swings in inventory that we have seen in the past. Sales revenue will be more stable as it will vary only as the LME price moves.
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