Well I took a nice stake in this today. The lithium sector is to hot at the moment... And well this is the most underperforming in the sector. Opportunistic buy but in for the long term. Market cap in comparison to our peers is at a major discount....
They need to find a buyer for J&R shares..... They still have 260 million to dripfeed to the market....
Question for you seasoned AJM guys
There were 2 shipments last quarter totalling 14 770 dry metric tonnes at a price of $601 dollars - $8.876 million
Another 8000 tonnes that didn't make it due to the cyclone but AJM was paid? Another 4.8 million. So revenue of 13.7 million for the quarter.
Now the plant has been running at 612 tpd as things ramp up..... This is 55 000 tpq.
Given MIN pricing for the coming quarter is $680 per dry metric and PLS obtained $675 for last quarter.
Next quarter should be roughly 50 000 tonnes at $675 or $34 million. Expected outflows are at $20 million.
so annualised profit of $56 million??
Rough figures but I'm in this one now
best of luck all
AJM Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
