Umm @Kevo88 your statement wrt to margins in refining being higher than mining is "not accurate"
This has been studied over and over. And in the higher priced environment it heavily favors the miner. The major benefit of integrated miner/refiner is the much lower pricing volatility, which would primarily come from "contract pricing" (I'd say listen again to Paul Graves Arcadium interview by RKE recently)
Here's one set of data on Mining V Refining margins (done at high spot prices to compare with (lower) contract prices)
Umm @Kevo88 your statement wrt to margins in refining being...
Add SYA (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
3.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $339.6M | |||
| Open | High | Low | Value | Volume |
| 3.3¢ | 3.4¢ | 3.2¢ | $666.7K | 20.22M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 137 | 24096599 | 3.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.3¢ | 1219029 | 9 |
View Market Depth
| Last trade - 16.10pm 06/05/2024 (20 minute delay) ? |
|
|||||
|
Last
3.3¢ |
Change
0.000 ( 2.17 %) |
||||
| Open | High | Low | Volume | ||
| 3.3¢ | 3.4¢ | 3.3¢ | 8846881 | ||
| Last updated 15.59pm 06/05/2024 ? | |||||
| SYA (ASX) Chart |