CJ what would you expect when plant running at 65% of optimum output while all inputs continue at 100% level, plus some extras to deal with the Malaysian effect (read crap).
Just a guess which I will confirm later but I expect COP including all admin cost to drop to circa $12 in March qtr. Even $12.50 at todays depressed prices gives a GP of 50%. I can certainly live with that in anticipation of an uplift in NdPr over the next 12 months.
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