Better than expected
First good news: Sales are stronger than expected.
Actual Q1-23 Sales Volume = 2,849T = 6.3M lbs = ~15% higher than the Sales Guidance.
Assuming Q1-23 avg Revenue per pound = US$10
Q1-23 Estimated Total Revenue = US$63M
The analyst average EPS estimate for Q1-23 = a loss of -C$0.08. Unless the costs are unexpectedly out of control in a big way again, I predict that we'll realise a profit and will clearly beat the analyst EPS consensus by a good number.
Other good news / catalysts:
1) The construction of the ilmenite concentration plant progresses as planned to start a gradual production ramp-up in early Q2-23.
2) The installation of our first VRFB sales to Enel Green Power Espaa is on schedule with a majority of the site equipment installed.
3) LCE / Ansaldo Green Tech MOU has moved to the stage of final agreement negotiations.
Good news all around.
I’m cautiously optimistic that Q1-23 results will set the stage for a strong come-back year ahead. Delivery is everything.
Btw, an announcement of a well-known name as our new CEO will accelerate the recovery, imho.
My 2cts
DYODD