Lithium Australia NL (ASX:LIT) announced the business update amid the uncertain business environment due to Covid 19 pandemic. The Company now focuses on near-term cash flow:
- Soluna Australia is anticipating positive cash flow by December 20 Quarter.
- Envirostream Australia revenue expected to increase significantly in FY2020.
LIT reported a reduction in outgoings:
- Decreased activity in capital-intensive business units due to travel bans.
- Cash at 30 June 2020 – AUD 3.5 million, with significant R&D tax refunds over the next six months.
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