MHM Metals Limited Reports Cash Flow and Production Results for the Second Quarter Ended December 2013; Provides Earnings Guidance for the Third Quarter and Fiscal Year 2014
Production for the quarter was 4,557 tons. This was less than the previous quarter due to the Christmas shutdown and the slower throughput experienced during filter press commissioning. Average throughput during the 12 weeks that the plant ran was 380 ton per week. The average tons per week disregarding these abnormal weeks was 449 tons.
Projected cash sales receipts are expected to be $2.47 million plus a Tax R&D Refund receipt of $1.38 million for the third quarter ending March 2014, with outgoings anticipated to be $1.85 million, including capex of $0.06 million.
The downtime experienced in January will have a minimal effect on the revenue and profit forecasts made at the AGM for fiscal 2014.