Q3 - Mehwell that was a complete let down and not the Q I was looking for.
avg. price per ct. at $337 is a dissappointment, flowing through to a weak EBITDA, $13.8M and Net Income, $1.8M. I guess some of it can be attributed to higher processing of waste material through the Q. However I thought this HB agreement and Clara were suspose to see more $ flow through to the company..... still waiting.
Revenue was ok at $49.9 M, which leaves us only $25M left in Q4 to hit the lower end of revised higher guidance at $195M. Even if we have another $50M Q4 that will take us close to the upper target of $225M, which should not be a problem. Any kind of bump should carry us over.
Under the "HB Sales Agreement ...." paragraph, this seemed interesting. But still nothing on Sethunya ?
"At September 30, 2022 a number of higher value and more technically complex stones that take longer to manufacture had not fully completed the manufacturing and sales process. These stones were delivered to HB in 2021 and the first nine months of 2022. As these stones finish the manufacturing process and are sold, the Company' may record additional revenue in the form of "top-up" payments from these sales."