Ann: 2019 Half Year Results Presentation, page-182

So many flaws in this post.
1) You're extremely optimistic to think they will get US$577/t this half. I believe GXY is still on 6-month pricing contracts. They got US$584 last half and the CEO came out saying conditions are "very soft". They will be doing well if they can average above US$550/t this half.
2) Cash costs of US$385/t - I think you're dreaming if you think that price includes sales costs and royalties. Cash cost is closer to US$450/t.
3) "That should mean they are easily going to be cashflow positive for the coming quarter" - after you add on admin costs and Capex, I think you're dreaming if you think they will be cashflow positive this quarter/half.
4) "bottom of the lithium cycle" - I don't think we are close to the bottom. There is still a massive oversupply of lithium, the big players have plans to ramp up supply, so there's no sign of stabilisation in lithium pricing, let alone a reversal of price. The EV hype is over and exponential growth forecasts are by those in the industry with an agenda and they are being proven to be way off.
5) "share price is down to rock bottom" - the share price can still go a fair amount lower. I'm not saying it will, but it's well above cash backing and it's not really deserving of being so given it's a low margin producer with a sky-high valuation.