Shipments to the new client began in mid-August and have carried through into the December quarter.
Chief executive John Peters tells Proactive: ”The real story here is that we’ve always said that we’d keep ourselves lean and operate within the cashflow coming out of Cobre but now we’re probably moving to a point where next year in particular, if these sales continue, we’ll actually end up in a full year profit”.
”We’re unique in that we’re a mining exploration company that pays its own way”.
Summing up the September quarter Peters said: ”I think it’s really changed the company. We’re now in a position where we expect to be in positive cashflow each quarter .. coupled with our other projects it puts us in a position where we’ve got cashflow, overheads being covered and profits possible too being generated”
Story by ProactiveInvestors