ASX CXO TODAY, page-132

Simply wall Steet is picking up one very low-grade analysts work that looks to be nothing more than an attempt to take the Aug 2021 DFS price graph on page 5 of the presentation pack and change from calendar to financial years. A little bit more digging confirms that the simply wall street revenue forecast is A$77.6m of revenue in 2022/23 and A$229m in the 2023/2024.

If Core successfully ramps up to full production in 2nd half 2022, shipping at least half a years production in 1st half 2023 would appear realistic. 95kt @ say US$2k/t and 0.70 is A$271m of revenue and they are "forecasting" A$77.6m. Any version of revenue forecasts based on current spod prices generates a number more than double what this analyst is feeding into Simply wall St's calculations.

The 2023/24 figures are no better. I don't know how exactly they have derived A$229m of revenue in 2023/4 but 192.5kt @ US$825/t and a 0.7 exchange rate is A$226.9m. They appear to be picking up the now outdated August 2021 DFS chart price figures and multiplying them by planned volumes.

Any poster repeating simply wall street's 97.7% forecast annual earnings growth rate as a good news event is simply doing a massive face palm because they are circulating forecasts consistent with Spod prices under US$1000/t.