I too have quite a lot of ASM shares, also in the metallurgical business and agree with your analysis
"The main topics are: x We are late in all promises! - agree x We only produce (if we produce at all!) at the KMP only half of the tonnage as forecasted last year! -no word on production yet, I've emailed both DW and KMP politely requesting production figures with zero response. x Normally producing at a decreased productivity, you are not on the optimum consumption path -> production cost are higher? Fixed cost also increase dramatically! - agree x Half production means: problems are somewhere imminent! Timeline to solve the problems! - full 5200t production now expected end 2023, another timeline blowout, means start up problems x Is help required to solve the problems? - Yes x When do we get a first revenue, at which cost of the product? - unknown x Long term delivery contracts? -unknown x Is HEC a real partner - typically the mentallity there is: win-win for me - loose-loose for the others! - I'd like to think so but another unknown x Development of Dubbo is still far away" - the reason why I think it's getting shorted big time
If anyone else would like to chime in with some facts, not pink coloured glasses, that would be great
ASM Price at posting:
$4.44 Sentiment: None Disclosure: Held
(20min delay)